The late wine author Leon Adams once said that in a best-of-all-worlds situation, dry wine should be as cheap as milk. We may be reaching a point where that’s true. The overwhelming volume of wine in the United States today has kept prices for much of it very fair. The evidence is everywhere. Three of the last four wine-grape crops in California were huge. The 2019 harvest was so large that about 10 percent of the grapes grown were never harvested! There were no buyers. Wineries report they have more wine in inventory than at any time in their history. Young millennials, who had been expected to buy a lot of wine in 2019 and 2020, seem more smitten with alternative beverages, from craft beer to ciders, hard lemonade to upscale whiskies, flavored hard seltzers to super-premium tequila. The COVID-19 pandemic, which forced a shutdown of most restaurants and bars, …