Limits to Growth for Precision Fermentation

With concerns mounting about the biodiversity crisis, precision fermentation and cultured meats offer an enticing solution.
Proponents argue that culturing mammalian cells and fermenting macronutrients with gene edited yeast can decrease the land footprint of agriculture by 1000 times all while eliminating animal cruelty.
Skeptics like Dr. Paul Wood question whether the Moore’s law style expectations of cost reductions apply to biological systems and the scalability of these technologies.
Will precision fermentation feed billions of new hungry mouths in Africa and Asia or remain a niche product for eco-conscious wealthy elites?