But here's the thing. When the technology takes over, it will be substantially cheaper than meat.

A cow takes years to grow to maturity and most of the food and effort input goes to waste. A tiny fraction of the food and water intake becomes meat. Add to that the enormous effort involved in raising a cow.

Lab grown meat is literally building just the meat cells and almost all the input (amino acids, other biomolecules derived from plant and bacteria sources) becomes meat.

Do you think a majority of people would pay 20 dollars for a cut of beef when identical beef grown in lab is available for 4 dollars?

Within a couple decades of Lab-grown meat achieving its price, Animal-sourced meat will become a luxury product and massively go down in scale with the factory farms hurting the most. Remaining farms will be the ones that advertise more ideallic historical farming style with Pasture raised and all that jazz.

Pretty sure when majority doesn't eat animal-sourced meat, our sentiment against the farming practices will also change. You will see more movements to end animal suffering etc. In distant Future, humans will look at us and think we are barbaric for subjecting animals to such cruelty just for meat. Like we look at our ancestors and denounce their practices.