I eat a lot of ground beef and always have. Ground beef has a bad rep due to CW fat-phobia. I try and get grass fed since grass fed beef is superior (no matter the cut) and organic is second choice. I make big crockpot chillis and stews out of it and get two or three meals per pot.
Grass fed ground beef should be just as good a quality as whole cuts of beef provided they are both from the same supplier so yes ground beef is a perfect alternative to whole cuts (and I'd say a better alternative with price considerations).