Well, much like a musician when Weird Al parodies their work, or an entertainer being roasted by the Friars' Club, a product knows that it's hit when Wal-Mart produces a "Great Value" rip-off. V8 Fusion is officially a mega-hit.
The Great Value version is fifty-nine cents cheaper, $2.39 compared to $2.98, and after checking the ingredients and nutrition info, I had hopes that the flavors would be similar. No such luck. As you can see from the photo, the Great Value variant is significantly lighter in color. The same effect can be seen in the taste. It's both less flavorful and more watery in texture. The official V8 is better in ever regard.
Great Value's juice isn't bad, but one of the reasons why the Fusion is such a hit is because it tastes very good in pretty much every way. It's a tasty combination of vegetable and fruit juices that even picky (also known as pricky) children would like. Wal-Mart's made the juice taste cheaper and more like "kid's" juice. It's not bad enough to not recommend, but at the same time, I have a hard time recommending it. If budget is a serious concern, and you buy a LOT of this stuff, that sixty cents per bottle could mean significant savings over a year. But if if you don't fit that scenario, buy the V8.
Great Value V8 Fusion: RECOMMENDED