So, Cruz is saying he believes in the primacy of a particular agreed-upon value for a unit of measure to assess any unit of subjective measure's value - or cost.
Attaching his statement "What is more valuable - a television or an automobile" to the dollar indicates he believes either the purchase or sale price of the item is more important than any of the other values these items might bring to someone.
Someone who does not drive, who works with mass media, who has poor eyesight or who is isolated or home-bound, might consider a television more valuable or important than an automobile. Combined with a playback and/or communication system of some sort, the relatively low direct and attendant costs of a television (especially a smart TV) would be a more optimal provision of entertainment and general well-being than a far more expensive automobile and the attendant costs with that. Not to mention environmental costs between the two items.
The value of both the Television and the Automobile are both relative, but I don't think Mr. Cruz believes the absolutist audience he pimps understands that term other than as in familial bonds.
Haele