When is value going to come down?

We’re all well aware of the recent dips. Tech and even indices have dropped considerably, but boring value/defensive stocks are still trading at insane P/Es and are mostly unscathed. I’m talking about KO, PG, BRK.B etc. one would assume that with supply shortages and disruptions to consumer staples these companies would face sell offs and stock price hits, but nada.

Any theories?