"Disgusting" only looks like a present continuous form, but it is in fact an adjective. It's a deverbal adjective, derived from the verb "disgust", but an adjective nonetheless (cf. "boring", "interesting", etc.). You can describe something as "more disgusting", "the most disgusting", which you wouldn't be able to do with a verb. The  phrase you mention as good usage of the word, "That wine is disgusting", by your own reasoning would not be grammatically correct, since "disgust" is a transitive verb: whom is the wine disgusting? and it could only be uttered whilst imbibing said beverage, since it can hardly be actively disgusting you if it is sitting in the bottle.

But grammar aside, I agree with Guyomar that it is wholly possible for an abstract concept to cause a feeling of revulsion and, therefore, be disgusting.

Are you alone in this view?

Evidently, yes. Completely alone.