That makes sense, but the Impossible brand is not for us vegetarians and vegans. So evaluating it or calling it a failure on a measure that is not its objective isn't fair :/
Beef will never be able to optimize past feed conversion ratio.
Plant-based meat still has a large chunk of the price in processing.
There is definitely a use case for this, I've had impossible stuff with a lot of non vegetarians. In fact most vegetarians don't care about this product.
In the long term, plant-based meat substitutes should be cheaper to produce than actual meat, and if you can get a burger that tastes just like a regular meat burger, but is cheaper, that's also a win. Burger King already features the Impossible Whopper, but at a premium. If that becomes cheaper than a regular meat Whopper, a lot of people, and a lot of other fast food chains will follow. So that's the economical perspective of it.