Indeed. It's about availability and right to food, as articulated by Amartya Sen in his Nobel prize winning work on the Bengal (and other) famines.
https://www.prismaweb.org/nl/wp-content/uploads/2017/06/Pove...
However, quite a lot of cattle grazing land isn't really suitable for arable farming. The American approach of raising cattle on soybeans grown on arable land may not be sustainable, but more traditional hillside grazing may be.
Animal meat is much more bioavailable and nutrient dense. Especially when they are eating grass on land unsuitable for crops.
I don't have a major problem with meat eating when it's done sustainably and humanely. The real issue is that this is not the case for way too much of it now, and current meat production practices are yet another example of unsustainable overconsumption in general. Yet more than half the population regularly celebrates and enshrines that overconsumption, reinforcing it. This is not a good look to anyone who's really thinking long term & globally about these things.
So a truly microscopic fraction of the world's agriculture?
At a 50x loss in efficiency.
According to this guy [1], the US could feed 800 million people with the grain spent on cows today. Not grass, grain.
[1] https://news.cornell.edu/stories/1997/08/us-could-feed-800-m...
You cannot necessarily grow different stuff in the same field. Not all crops do well in the same kind of soil. For example, you need totally different soil for potatoes than you do for cereal crops if you want them to actually grow.
We (in the US anyway) feed a massive quantity of unspent (not brewery mash for example) grains when finishing cattle in feedlots. Corn, barley, milo, soybeans etc along with harvested forages like alfalfa and sorghum (which is often fed as silage).
People do feed brewery mash and other byproducts but that isn't most of what goes into feedlot rations nationwide.