THIS STORY is all over the net, forgive me if you've seen it already: A company called 'Transgenic Pets' is trying to gene-splice the allergen-free cat. They expect to have the sneeze-less cats available for sale in about three years, for US$1000. The cats would be neutered to prevent them from breeding. This is not to prevent the evils of unchecked animal procreation in that PETA video. This is to prevent the owners from breeding more hypo-allergenic cats and selling them, undercutting Transgenic Pets' market.
The story is bizarre, but predictable. Of course, the next step is pets with other desirable characteristics. The non-shedding cat, for example. The non-drooling dog. The poodle whose coat always looks like it had just been to the poodle salon. And is bright pink. And glows in the dark. And plays the clarinet.