Can you explain how the market has any authority over what is or is not considered good quality?

From what I can gather the market dictates what is popular/convenient/valuable/available, it does not dictate what is good or bad.

I know I'm a jaded, cynical individual, but even from a purely free market capitalistic point of view, I still don't see how Coke is better quality than Pepsi, even though (using your logic) "the market" says otherwise.