Answer:

• The water-intensive farming is absolutely fucking the ecology of the American southwest in a way that's effectively irreversible on human timescales.
• The money being generated by this farming is going to a select few completely undeserving, morally bankrupt people who know the damage they're doing and are hoarding swathes of land and water rights they were given for effectively nothing generations ago.
• This alfalfa is then shipped internationally to Saudi Arabia literally halfway across the world, generating greenhouse gas emissions and other forms of pollution.
• This alfalfa is then used to grow cattle, meaning that value is being extracted from the US – at a meager cost compared to the externalities we bear – and given to the theocratic shithole whose entire economy is based on destroying the planet that is Saudi Arabia.
• Edit: the cows produce a bunch of methane over their lifetime.
• The cows are then brutally murdered for food despite extensive evidence that cows can feel pain and do feel emotions like fear.
• This cow meat is then fed to people despite the fact that 1) red meat is a class 2a carcinogen (and frankly in light of evidence that vegetarian and vegan diets reduce risks of certain cancers by double-digit percentages, we're all just waiting until it's confirmed rather than heavily suspected as a carcinogen), 2) it substantially increases the risk of heart disease, and 3) it elevates the risk for diabetes when compared to plant-based foods which are cheaper and less resource-intensive to create.

It's a benefit to essentially everyone if alfalfa farming becomes less profitable. The entire chain from water to cow meat is unjust, cruel, and otherwise fucking terrible.