An aging industry, small margins for the older economic structure of small/medium holdings, little existing use of new technologies at scale.
As the industry demographic shifts and as 'new' technologies such as drones, robotics, remote sensing, pervasive wireless data, vat-grown meat and mixed land/marine farming are adopted there will be a lot of money to be made feeding the world.
In some sense you're right, but you shouldn't underestimate either the innovation that is going on or the intelligence of farmers.
There's a word for a stupid or wasteful farmer, and that word is "broke". You can't make it in agriculture unless you can make it against fierce global competition.
Ten years ago there was a lot of apocalyptic talk about the opposition of organic vs. GMO crops but the truth is that organic and GMO crops have both thrived. GMO crops are getting better, yet organic methods are advancing too and are being cherry-picked by conventional farmers when they are competitive. Robotic tractors are a reality today.
An aging industry, small margins for the older economic structure of small/medium holdings, little existing use of new technologies at scale.
As the industry demographic shifts and as 'new' technologies such as drones, robotics, remote sensing, pervasive wireless data, vat-grown meat and mixed land/marine farming are adopted there will be a lot of money to be made feeding the world.