Why subsidized? A fair comparison would be subsidized home farming vs. subsidized industrial farming, or neither are subsidized.
The exact problem was discussed in Seeing Like a State by James C. Scott, where he reached a very different and nuanced conclusion. You can have a read if you are truly interested.
Subsidizing home farming isn't really possible with our current society, and not subsidizing industrial farming could be disastrous and lead to famine. The subsidies guarantee that food options will be available at all times.