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The phrase "a scarcity of value" is correct and usable in written English.
It can be used to describe a situation where there is a lack of worth or significance in something, often in economic or philosophical contexts.
Example: "In today's market, many products suffer from a scarcity of value, leading consumers to seek alternatives that offer better quality."
Alternatives: "a lack of value" or "a deficiency of worth".
Exact(1)
"They've benefited from a scarcity of value among Internet companies".
Similar(57)
Moreover, this difference is more marked in developing countries that are characterized by different cultural values and a scarcity of available resources [ 59, 60].
Throughout, we observe that trees with t = 10−4 (red lines) had poor topological accuracy due to a scarcity of SNPs, whereas trees with greater values of t were well inferred topologically (and had relatively more accurate branch lengths) unless error intervened.
There is also a scarcity of choice.
This creates a scarcity of beds.
A scarcity of charging stations.
"There's a scarcity of water in Rajasthan.
A scarcity of information is available online.
"We all face a scarcity of labor".
You have a scarcity of doctors...
There is a scarcity of research published on clinical scholarship.
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com