The time it will take for the Universe to cease is soooooooooooooooooooooo long that it is not really fully conceivable, even more pointed, who wants to live that long anyways?
The best point about Lab Meat is that we may at some future date cease to Farm Plants and animals for food, we'll just manufacture it. This will mean that people will be able to live in places previously thought untennable and the availability of food would be limited to the energy source and base raw materials.
While it may be true that sufficient conventional and unconventional food already exists to feed the world, I am not sure that the world is ready for such foods. There are many people who won't eat Insects for instance, and many are also averse to food preserved through radiation, even when it is safe. It also bears remembering that food scarcity sometimes has more to do with regional political instability and conflicts. There are places where food aid is left to rot because those who control the distribution will not permit it to reach the starving people.
Patenting of seeds sounds unconscionable until you consider that the seed was actually bioengineered with a lot of R&D effort, and no one is forcing anybody to use those seeds. Patents are allowed so as to encourage continued private research.
Anyways, my hope is that one day we'll be able to mass manufacture food so that Square miles of land would not have to be tied up, maybe the land could be returned to nature for instance? It would certainly be faster and more humane than raising animals for food, right?