Taste would be what's added, and that would be fine.
Just not a very tasty thing on its own. Like soy sauce (not the sweetened crap though) - that's probably my only exception. Not bad, if a bit like "liquid salt" and not all that much else...
Just checked some beef snags we have sitting in the fridge for barbequeing - close to 20g of protein* per 100g, and they're about $5 a kilo (not the cheapest out there, but they do taste good), so I guess that's $1 for 40g. Not bad, considering our dollar is still
crap compared to the pound, heh.
So it might pay to look at some more butcher's offerings, especially if there's a macros breakdown, and even better an ingredient list. Dunno. Depends on the cost of meat and meaty stuffs around there, of course...
* Er, well not quite. So more like 36g for a dollar, -ish.
Another thing to consider (other than iron and b12, which might not be too much of a concern) is getting enough of all the essential amino acids. I don't recall what soy does or doesn't have, but I do seem to remember being told you had to combine various vegetarian things in order to get "a complete protein". Sounds like a lot of hassle if you ask me, and could be something to keep an eye on.