It still takes more human-edible crops in than it produces out

1 kg of meat requires 2.8 kg of human-edible feed for ruminants and 3.2 for monogastrics

https://www.sciencedirect.com/science/article/abs/pii/S2211912416300013

Per unit crop land you can produce a lot more with plant-based production

we show that plant-based replacements for each of the major animal categories in the United States (beef, pork, dairy, poultry, and eggs) can produce twofold to 20-fold more nutritionally similar food per unit cropland. Replacing all animal-based items with plant-based replacement diets can add enough food to feed 350 million additional people, more than the expected benefits of eliminating all supply chain food loss.

https://www.pnas.org/doi/abs/10.1073/pnas.1713820115

For another study

We find that, given the current mix of crop uses, growing food exclusively for direct human consumption could, in principle, increase available food calories by as much as 70%, which could feed an additional 4 billion people (more than the projected 2–3 billion people arriving through population growth)

https://iopscience.iop.org/article/10.1088/1748-9326/8/3/034015/pdf

For water usage, it's also draining from places like the drying up Colorado river. We really don't want to use more water from that area at all

Correspondingly, our hydrologic modelling reveals that cattle-feed irrigation is the leading driver of flow depletion in one-third of all western US sub-watersheds; cattle-feed irrigation accounts for an average of 75% of all consumptive use in these 369 sub-watersheds. During drought years (that is, the driest 10% of years), more than one-quarter of all rivers in the western US are depleted by more than 75% during summer months (Fig. 2 and Supplementary Fig. 2) and cattle-feed irrigation is the largest water use in more than half of these heavily depleted rivers

https://digitalcommons.unl.edu/cgi/viewcontent.cgi?article=1064&context=wffdocs