Esteem
Etymology
From Latin "aestimare" (to value, appraise, estimate), and it is a doublet of "estimate" — the two words split from the same root. That kinship is revealing: to esteem someone is quite literally to estimate their worth highly, an act of appraisal at heart.
noun · /ih-STEEM/
Respect and favorable regard for someone or something’s worth.
What it names
Regard grounded in a judgment of value — appraisal rather than mere liking — which is why it must be earned.
Example
She held the old editor in such esteem that his brief note of praise outweighed a dozen prizes.
Related idea
Esteem is respect based on an appraisal of worth; affection is warmth of feeling that needs no such judgment — you can esteem a rival you dislike, and feel affection for someone you don’t particularly esteem.