Is the Charles Shaw Chardonnay wine really better than $200 wine bottles?

There are many people in my area that are claiming that Charles Shaw chardonnay has won blind taste tests against more expensive wine bottles and that it is superior to a lot of $10-20 wine bottles. On the opposite side of the spectrum, I have some wino friends that say that they simply cannot stand the taste of Charles Shaw. Is it the prestige of more expensive wine bottles that make them appear more refined or is Charles Shaw really better than more expensive bottles of wine?