If a genetically engineered plant gathered energy equally across the full spectrum then frequency shifting using solar > LED is absolutely pointless even at 100% efficiency. Solar panels and leaves are solving the same problem using the same physical laws.
But that’s hardly required as solar panels to LED’s can’t reach 100% efficiency. Further, the limited lifespan of solar panels and LED’s means you need to cover their construction etc which requires resources.
Ultimately, looking at theoretical limits it’s simply a net loss.
PS: Monoculture is far from required, it’s an outgrowth of current automation rather than having any theoretical advantage.