1) The starting material is probably to expensive, especially considering the expenses needed to purify the ethanol after reaction (see below).
2) I don't know how much I would trust alcohol made in this method. For example, a simple, cheap starting material would probably be chloroethane. However, chloroalkanes are generally toxic, so you would have to go through a whole lot of purification in order to get food-grade ethanol from this process.
3) A lot of alcohol (wine especially) gets its flavor from plant compounds which are extracted, fermented, and aged along with the alcohol. Synthetic ethanol would not contain these flavor compounds. So, if you could make cheap, safe ethanol from chemical synthesis, it would only be suitable for the cheap, plastic-bottle grade vodka whose only purpose is to get you drunk for as little money as possible.