but would people prefer this meat over traditional meat
This would never ever replace normal meat entirely. What can happen is, the poor masses will eat the ersatz-meat while the rich enjoy the real thing. With technological progress it's inevitable that with enough time the artificial meat will be significantly cheaper than the real thing. Also people living in hypothetical space stations will probably have no choice but eat the artificial stuff. But it's probably still way better than current astronaut food
Semi related: There are also first attempts with "printing" food with 3D printers. The ingredient selection is still extremely limited, but again, given enough time I wouldn't be surprised if you'll some day "print" your own pizza at home.
I don't judge either as good or bad, for now I'm just in wait and see mode.