Potato blight? soon to be available for: meat!
For that purpose. Photosynthesis is horribly inefficient for any use other than making more plant.
Lab grown meat will have the same problem assuming the cells have little to no genetic diversity. Even if grown in a sterile environment, they could become susceptible to a blight-like organism (virus, bacteria, fungus, etc) once on grocery store shelves.
I know it isn't on quite the same scale as literally cloning the cells, but livestock isn't a very deep gene pool. Lots of selective breeding, by the same mindset that gave european nobility weak chins.
Removing the sentience from cows does reduce animal suffering, though I wonder if other things couldn't be done to preserve genetic diversity. Like maybe breeding oysters without ganglia, as they are barely alive to begin with. Farmed oysters are also better for the environment than wild ones.
Say synthetic wood as your example, I would be willing to bet that a dedicated system that extracts CO2 for the carbon and combines it with water to make cellulose could be made more efficient than any type of photosynthesis. You can sell carbon credits and oxygen on top of that too.