We are life forms. A life form is defined by a biological process aimed at sustaining it.
We’re not choosing life as our ultimate value, we’re just choosing to recognize that it is. Like all life forms, maintaining our own life is our main function. It (and the values stemming from it) are the only values that aren’t arbitrary.
If all our actions stem directly from pre-programmed instincts from birth like all other animals in nature, in that case then yes, sustaining and pro-creating life is then selected by default to be the Ultimate Value, based on objective biologic and psychological make-ups.
The reality is however we have this ability called volition to freely choose above our base biology through sheer power of will, in which case life is only an Ultimate Value if we choose it to be.
Life itself makes all of the other values possible in that no values are possible to a thing if it is dead.
Her argument is more saying that you already have chosen the ultimate value, as long as you choose to remain alive and awake.
This is where it gets interesting. While it’s true that an individual needs to stay alive (choose life) to pursue any other goals he chooses, the quality and length of how he choose to stay alive is completely subjective, and this choice makes a world of difference when acting as the standard for defining all other lesser Values.
Consider these two extreme polar examples:
—A productive citizen chooses to stay alive to raise a family (instead of committing suicide by immediate starving)
—A religious fanatic chooses to stay alive (instead of committing suicide by immediate starving) to better serve his God (say by suicide-bombing infidels later on)
In both cases, yes, life, choosing to stay alive, is a pre-requisite. However, all other lesser Values would vastly differ.
This is interesting because as far as I know, reading Objectivist texts, every other Ethical and Political arguments is ultimately extensions on the Ultimate Value been “Life”.
But if there is no objective reason as to why an individual should choose the Objectivist version of life as the Ultimate Value, then the choice of what goal should be the Ultimate Value is wholly subjective, and every other lesser Values Ethically and Politically is up for grabs.