It would not be surprising if they were counting on the possibility of selling to the giants like Monsanto. The giants don't dare get involved directly at the early stage, just too much legal and reputational danger, but they are one of the logical exits for people who can go in earlier and lock up all the IP.
Honestly the biggest fear is you can't lawfully use water to grow your own food. Patents be damned, you will be in jail in many states if your water use wasn't to just poop in a toilet. I guess people in a desert like Phoenix will be able to justify a grass lawn and a pool via some absurd use of water law.
The right to grow needs yo be solidified.