Meat production requires a magnitude more soy (in raw materials) to produce the same output as e.g. tofu/tempeh/soy milk production.
I haven't ran the numbers, but parent hinted at a cow needing to eat, say, 10 Kg of soy per Kg of meat produced, while you could have just eaten the soy directly.
Meat production uses a lot of land to produce food for your food, that's why it's so inneficient. Instead you could just use a tiny fraction of that land, and grow enough food for everyone.
You're comparing two cases of "mass production" without any quantifier.
Beef has an over 15 times larger carbon footprint compared to tofu.
https://ourworldindata.org/environmental-impacts-of-food
So sure, if everyone switches we would substitute one mass production for another, but we could feed 15 times as many people (all else equal).