Changeable useless disturbed Finch

They can make lab created diamonds, have been for some time. Early ones weren’t really jewelry quality. Decades ago they got so good in quality that they can surpass the optical qualities and structural integrity of diamonds from the ground. The diamond industry had a fit and laws were passed and micro stamps created to easily identify lab diamonds since the only other real way to tell a high quality jewelry grade lab diamond is that it is too perfect to be dug up in “nature” in general.

There are also lots of clear stones which actually have superior optical qualities to what diamonds are prized for- as well as superior toughness (diamonds are hard, not tough. Diamonds can shatter relatively easily. They resist scratching, not cracking.)

That said- we could still argue about the ethics of lab diamonds as the process can take a good deal of energy and technology- which we can argue is justified in creating equipment to help us understand the universe or make breakthroughs in technology and industry that in the long term could help the environment or allow technology that otherwise wouldn’t be possible- but we could question the ethics of such investments for creating baubles that exist either to be pretty, or to show wealth and status (largely negated if the bauble requires neither- thus pointlessly self defeating in that application.) given the environmental and other tolls.

There is also a question of ethics in economics. Some of the cost of jewelry grade lab diamonds is justified by the overhead and energy costs- but at an average of 30% less than real diamonds- it’s a savings but... you’re still looking at quite a price tag on a 1c “perfect” lab diamond. It will still cost the same or more to cut and polish a lab diamond- which reflects in the price- and at the end of the day these diamonds are primarily sold wholesale or in lots, so they end up retail at what can be called “fixed” pricing structures by retailers who most often sell other types of Stone including “real” diamonds and don’t want to cannibalize their sales. So the fact it is a diamond still influences its price.

But- you saved $300-500 on your ring. Ok- but you still paid $800-1000 a carat plus the ring- so a nice engagement ring can still cost thousands of dollars. Jewelers often won’t buy lab diamonds (no cert) or pay pennies on the dollar. The lab won’t buy it back, and it is difficult or impossible to get insurance on unlike a “real” diamond. So there are all sorts of questions of ethics surrounding lab diamonds- and like “real diamonds” these questions largely revolve around the business practices and gem/jewelry industry and supporting structures more so than the stone itself- although the methods and impacts of sourcing the stones is an issue.