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Well, except maybe the chickens. Bird flu, y'know. ;-)
Seriously, it seems like a reasonable way to cover your bets, without spending too much money. If the energy crunch doesn't start to bite for 50 years, you haven't given up your job, etc. If the zombie hoards are roaming within five years, well, at least you have neighbors to help you defend your vegetable patch. :-/
Having actually kept chickens for a few years, they seem to react in enclosed spaces much like rats and humans-- they start tearing at each other's feathers and generally exhibit stress due to crowding. Our chickens, (circa 1997-2000), were free range during the day, were absolutely healthy and produced eggs too large to fit in a carton. Our rooster seemed to keep them all safe in a habitat that included dogs, coyotes, feral cats and snakes. (They also all had names and distinct personalities).
OTOH...all the avian flu sites I keep up with report today of confirmed cases as far north in the EU as the Baltic Sea. I have no idea if the vaccine that the Asian countries are using is effective or not, at this point, but I would think that sooner or later federal action/local hysteria would demand that you cull. I think it's pretty iffy right now.