The contention that the "black market" will always be cheaper is absolutely true.  So, the question here is what will the economic motivator be:  lower cost or presumed better quality.  You don't have to have a PhD from MIT to answer that one, do you?  This reminds me of 1998 -99 re tech stocks.  There is zero support for current valuations.  I think the high (no pun intended) on Canopy was around 18, and look at where it is now in the midst of all of this euphoria.  I confess that I did hold some of these companies and had a good result.  I have exited the positions, as at this point I don't think the risk/reward equation is favorable.  Maybe I will look like an idiot a year from now, but at this point I am quite content to take the money and run.