Soylent Green, anyone?
I agree, it seems a grotty idea to me too. It would not be acceptable to vegetarians, I am sure, and IF the idea would be to invent a cheap food source, well, I think the planet has enough resources to feed people, but "the warld is ill-divided ....".
It jsut looks like the space exploration people saying "look - we're not entirely a useless waste of money", whereas I tend to think they are, of course. Yes, even taking into account the Teflon and the contact lenses.