And its not that lab meat is cheaper in a vacuum right now, more that huge meat subsidies (either direct, guarantees and insurances from the state, and allowing meat producers to externalize a huge portion of their water / pollution costs) hamper investment into lab meat that would exist in a purely free market. Traditional meat is just artificially cheap.
In contrast parent ju-st talks about artificially fertilising livestock, perhaps with accelerated growth.
In terms of ethics, the second procedures seems at least not worse than factory farming. The animals in the second one would need to live less long in order to produce the same amount of meat, and also you'd stop having some unwanted animals like male chicks.
However I really hope that lab-grown tissue becomes the standard for meat production.