I really like the idea of turning Honey into Mead, but at the moment there is only one type of mead, and the only types of Honey that yield a profit are Wild Honey and Tulip Honey. If possible I'd like to see a type a Mead type for each type of Honey and have a fixed multiplier for the mead type, similar to Wine. The current value increase of Wild Honey -> Mead is 2x, so a 1.5x-2x multiplier would seem appropriate, but mabye increase the brew time by like a day. This would also make a more compelling choice of what to put into cellar casks as at the moment wine and goat cheese are the best picks by a wide margin.
I like the idea, and agree - mead is pretty inexpensive considering the time and effort you spend to make it.
I am a little torn about this. On one hand, I like the idea, on the other, it makes turning your fairy-rose honey into mead a no brainer. From what I know, mead has indeed been traditionally made from lower quality honey, so it kinda makes sense that it is the way it is. What I'd like better would be some kind of mead flavouring mechanics. As in: put in some kind of fruit, and the mead's base price increases by 50 (would give cheaper fruit like cherries another small boost).