I think I get what you mean, and I think we're both on a level agreeing on something but we keep missing our connection. Certainly I agree on the existence of Context-values, however I believe that Context-values are far greater in number than you seemed to originally indicate, and that the three indicators I brought up earlier, era, nation and experience directly affect the Context-value, hence why in a nation that is at war, you will get conscientious objectors, who will refuse to be drafted even if it means a prison sentence. In the era of the Great War, the Context-value was that Conscientious objectors were criminals who undertook treason by refusing to serve the state in a time of need, today they are looked upon quite differently. Even by the Second World War, a difference of only twenty-one years, the attitude towards Conscientious objectors had changed by a fair amount, there were still prison sentences but at a lower rate than in the war before. The Context-value had changed, only slightly, but it had changed in the space of twenty-one years.
Of course, as you correctly say, this is not something that really applies to current every day life because we are all bound by our own Context-values as defined by era, nation and experience, to perceive the world in our own ways. I know what is right and what is wrong because I was taught, both by my parents and by society and the state, just as all those who have come before me have been taught their versions of right and wrong, stretching back to the era of the dawn of man.
But yes, taken at face value, the sentence is strong, strong enough to inspire our conversation, and at the end of the day, that is what, in my opinion, works like Atlas Shrugged are all about, inspiring thought.
(although I must add as a disclaimer that I have not actually read Atlas Shrugged beyond its wikipedia page, but it is
on my lengthy list of books to get around to reading one day)