Until we get to a point where literally the only difference between a lab grown filet mignon and a grass fed one is cost, people will be raising animals for mass slaughter.
Meat substitutes are a nice alternative to have but they're nowhere near the real thing. And you can only have lentils so many days in a row.
This technology, once improved and using a better growth medium, literally has no downside. I can understand people might not want it for themselves but I'm sure there's a sizable market in meat that doesn't come from the hell that is modern factory farming (or the abbatoirs all animals end up in irrespective of the farm).
it is the energy needed to consume it that people enjoy the distinction of, compared to substitutes which also compromise somewhat (less than in prior years) on taste and texture
lab grown meat accomplishes that alongside the taste of fat