I'm not sure that the number of possible states of the universe is relevant. I would imagine that the vast majority of the variation in that state space would be characterized by human indifference. The set of all possible combinations of sound frequencies is probably comparably enormous, but that doesn't seem to have precluded Pandora's commercial success.

I have to categorically disagree with the statement that people don't have access to their values or that their answers about what they value will tend to be erratic. I would wager that an overwhelming percentage of people would rather find 5 dollars than stub their toe. I would furthermore expect that answer to be far more consistent and more stable than asking people to name their favorite music genre or favorite song. This reflects something very real about human values. I can create ethical or value situations that are difficult for humans to resolve, but I can do that in almost any domain where humans express preferences. We're not going to get it perfectly right. But with some practice, we can probably make it to acceptably wrong.