It isn't actually meat, and I don't mean that from a culinary or moral perspective. Calling it meat is marketing, not reality.
Meat in the colloquial sense means (mostly) muscle 'meat'. While we may casually think of that as largely proteinaceous, it is fact quite varied. For one obvious example, the protein is found in the context of complete cells, while the "meat" in question here is just extruded protein.
Actual meat has a number of complex connective proteins, lubricants, and fats, not to mention the metabolic contents of cells and extracellular matrix.
So, again, not meat.
That's not to say you can't fabricate or grow meat, just that we're not there yet for culinary purposes.
I must add too, beware of 'Prius Syndrome'. You're sold that something is so obviously better, when it turns out in total, not to be. The Prius (upon launch) had a greater environmental impact over its life than a Range Rover, because of the means and materials of its construction. Organic is often sold as inherently better for us, and it is if it's done responsibly with testing of products. Often however, it is not, but still fetches a high price.
