Location matters with real estate. Does it matter with wine? I would say yes, but this has been exaggerated among some wine enthusiasts. They make it seem like the only wines worth tasting came from France, Spain, and Italy.
Other countries actually have stepped up to the plate. They’ve tried to create better wines, and plenty of them have succeeded. There is plenty of great English wine and great American wine, contrary to popular belief. France, Spain, and Italy may always have them beat because they got such a huge historical head start, but an expensive wine from there is better than a cheap wine from France, Spain, or Italy.
Not to mention, the exact location in which the grapes were raised makes a huge difference. A Malbec from Argentina is going to taste sweeter than a Malbec from France. Lots of people would guess that it was the opposite, since French wine has a better reputation than Argentinian wine. Some wine enthusiasts don’t value sweetness as much as other qualities either, complicating the situation.
However, I would say that you can’t make too many generalizations about wine. It’s inspired centuries worth of study and dedication for a reason. If it was all about choosing French wine over English wine, you couldn’t make a hobby out of it.