Well, it definitely changes. Some of the alcohol evaporates, and some of the other components decay into other stuff, though I won’t claim to 100% understand all of the chemistry involved. But it definitely changes enough to have a completely different taste.
Now, does that make it *better*? That’s a matter of opinion, obviously, but the fact that old wine is necessarily in limited supply and more expensive/time consuming to produce does mean that it will be more expensive.
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