Actually no, as with most technologies, the process is refined and improved constantly. Calling them lab grown is a throw back to the early days. They are manufactured en-mass.

We have been able to buy mass produce industrial diamonds for decades for things like drill bits and cutting tools, but as the manufacturing process has improved, so the industrial diamonds have become much closer to natural diamonds to the extent that "cut" manufactured diamonds are indistinguishable from natural diamonds.

We got too good at making diamond cutting tools 😂