I see free range chicken breasts for way more than that. If they’re targeting the consumers who buy based on ethics, they’ve already reached a not-unreasonable price.
If economies of scale exist, this is a no brainer investment opportunity. I wouldn't be concerned at all about their current price dynamics and need to earn a short term return.
I would easily pay more for lab grown chicken. Partly because I believe it's even more ethical, partly because I really don't trust so-called "free range organic" chicken (I already buy it when I can, but I expect the difference is minuscule).
(To be clear, I eat meat now, but as far as I'm aware there's no easy way for me as a consumer to consume only meat from non-factory-farming methods.)