Do we? What would that look like?

Edit: missed the "if". Assuming you put that there because we currently do not have this tech. Speculatively: like most society wide moral choices, it'd probably be made in such a way as to serve the short term interests of whoever had the power to enact the policy.

Alternatively: Would octopus uplift increase the quarterly profits? If so, say hello to your new eight-legged neighbors.