Is it really wise to equate "less and less costly" with "less and less valuable"? The labor, perhaps. But the outputs?
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But there's something else, I think? A country that produces 10,000,000 light bulbs generates more value than a country that produces 10 light bulbs, even if the sale price for each bundle were somehow equivalent. People use light bulbs *to do things they want to do.*
If light bulbs were in very limited supply & thus extremely costly, you'd likely only see them used by people who had extremely valuable things to do at night. By even a colloquial definition, the marginal value of a light bulb would be much higher... in a much poorer world.
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