There is no set definition of “premium cigar.” It could be he carefully controlled hand creation or it could be a company’s most expensive cigar wrapped in individual tubes and wooden boxes and made of floor sweepings. It is a silly project.
I don’t smoke, but as an innocent bystander, I consider any cigar whose odor doesn’t make me recoil in disgust is a premium cigar. Most of them are not offensive at all.
Cheap cigars (e.g. “guinea stinkers”) are the opposite.