I'm sure Phillip-Morris would be more than happy t come up with whatever means are necessary to control the THC quantity per cigarette. They've been reliably addicting and giving cancer to billions for how many decades now? I'd wager a bet that they already have a lot of the chem-tech in place just waiting for the bill to be ******.
I'm sure the Tobacco giants need to move on with their vast empire of corporate holdings, but reefer isn't tobacco and doesn't require Tobacco to develop it.
Packaging and consumption are 180 degrees from cigarettes...
Weed begins to lose flavor and potency from harvest to consumption, after the curing process is finished; squeeze a cola and it begins losing taste and strength. "Joints" would need to be individually wrapped, and no one needs a cigarette sized doobie.
Unless it's for mass consumption...

(Party Time!)
I can plant a seed in a pot, and have primo smoke in a short time with little effort; restrict the potency offered, and Prohibition would be repeated...no one who smokes has the same tolerance or preference as the next guy, and it's a weed, no particular growing area is required for reefer production.
Mexico, Columbia, and California are radically different environments from Afghanistan or Pakistan, yet they all produce excellent cannibus.
Cost is completely different, one joint can last all day...and just like carrying a **** around with you at work or while driving, a large burning hempen cylinder will be obvious, ******* (dui), and frowned upon.
So the culture of smoking doesn't translate from one to the other, I could easily produce commercially viable reefer products from a variety of materials and market them without a vast commercial enterprise.
So, capitalists would easily develop production facilities and marketing systems without any connection to the fading Tobacco industry.
And addiction would NOT be a commercial factor, no matter how often Rev.Jimmy claims it would be.
Having fun the way you like is habit-forming, but addiction is not the same as wanting to do things you like over and over. Sorry, all you myth-believers and uninformed Chicken Little types...reefer has not brought down civilization in the past and won't in the future!
Just a little factoid...take a small drop of oil, put it inside the tip of a cigarette, and light it...the oil melts backward through the cigarette while you smoke it, and creates a delicious powerful smoke that looks like a cigarette but isn't. No "reefer" involved...except getting quietly stoned from a good dose of THC would be like smoking a nice joint without the extra hardware.
And I could finally afford to indulge without the outrageous cost!