No you're right it doesn't nail it down precisely (the satisfaction of needs or wants).

I do believe, however, that it more precisely nails it down than the wiki on here.

Or on second thoughts maybe not because we again come back to conflicting utilities: a suicidal might value being killed as higher utility than someone who is sitting on death row and doesn't want to die.

And I was using the term utility from economics since it's the only place I've heard where they use "utility function" so I naturally assumed that's what you were talking about since even if we disagree around the edges the meanings still fit the context for the purposes of this discussion.