I believe thinking of it only as a 'meat substitution' might be missing a larger trend in that a new segment is being created.
It’s called meat because it tastes and feels like meat. It’s a perfectly cromulent word to use because it describes what the product is.
Soy beans don't have nipples.
Once the difference between real meat and artificial meat is closed in terms of flavor and texture (to the point where most meat eaters will not have a huge preference) then the framing being taken now will pay dividends.
But, do all these anti-meat people not care about all the cows and chickens that got to exist because people love eating their tasty flesh?