I guess I don't want to argue about what a machine can or can't do with a person emotionally invested in the ideals of craftsmanship, but the wheel machine works from the same basic robotics as any NC machine and can absolutely measure any dimension to any precision and accuracy the engineer specified. An algorithm and program does the fudging. The machine in the video started by spinning the axle once while holding the rim to measure any wobble in the axle, then sent the wheel around once to measure the rim, which would catch any wideness tolerance as well as a baseline for starting to true it.

For what it's worth I bought the "handbuilt" Nashbar wheels although who knows if that means they were handbuilt by prisoners like wheels were before machines.