Team-Based or Value-Based

Profit LossI'm currently reading a book about Systems Analysis and Design.  In a chapter discussing Agile Methods, one of the statements really rubbed me the wrong way.
The Agile Manifesto is a set of team-based principles...
For the last 6 or so years, I've assumed the Manifesto was a set of "value-based" principles.  That is, at its core, Agile is about delivering value or eliminating waste.  What I like about the Manifesto is it leaves a lot to interpretation.  It doesn't spell thing out to the Nth degree.  But, I'm very curious what the community thinks.  How would you describe the principles?
Please leave a comment.  Tell me what you think.