It turns out a lot of people just prefer eating meat over other options regardless of price. I'm not really surprised.
It's like you are trying to position fish sticks on the same slot as fresh salmon.
Huge marketing campaign, target low price segment - that would be the market experiment I would be really interested in.
I have already seen this sentiment among poor people.
I do think that if the target market for Beyond really was meat eaters, they've been deluding themselves. Maybe they can shave off a few meat eaters due to the ethical issues, but how many? Ultimately, I have to assume the only way to win many over is on cost, which would have to be a high volume low margin business (if it's even possible to get the prices that low).
This sounds like people at a startup with no product/market fit telling the market that it is wrong.