When we remove subsidies and start pricing in the negative externalities (water, soil, carbon) of raising animals for meat, the calculus will certainly be different. It may well be different enough to make lab-grown meat the more cost-effective option.
The field is also remarkably young, and scientific innovation has a pretty robust history of being non-obvious until after it has happened.
But that's the thing, who will price those negative externalities?
Anyone in a poor country (with access to fertile land and water of course), with little to no education, will always be able to raise animals without a lab.
Basically for it to have a real impact over plant based meat, it will have to be cheaper then cattle meat - else it will just become luxury food for those who can afford it.
Most definitely, but again I think that would just render meat more expensive. You need to get rid of subsidies and help the shift to something else, that something else needs to be more attractive.
This should have been going on for the past decade or so.
The field is also remarkably young, and scientific innovation has a pretty robust history of being non-obvious until after it has happened.