Sure the industry is gaining money, but you’re ignoring specific company shutdowns and restrictions that shaped the industry out of the hands of certain players. There have been a lot of regulatory fingers in the pie, particularly above state level, that weren’t aimed at making the populace safer but instead at making those companies unable to produce or sell their most popular products. There’s also a lot of legal language bites like “e-cigarette” and “open container” that are seeing non-uniform interpretation in legal states, across vape legislature and cannabis legislature alike.
Draconic legislature isn’t quite turning the country into a hellscape for consumers, sure. But it’s clearly a possible side effect that isn’t being considered, especially as states are beginning to take it upon themselves to start outlawing studied hemp-derived cannabinoids (like delta8/10 or THC-P or THC-A) that are provided for under the 2018 farm bill.
Tl;Dr while the industry is growing, it’s clear it has enemies with legal power and that’s the crux of the complaint.