That’s a big assertion that needs evidence. I’m strongly in favor of legalization but not deregulation. It was a pretty big loophole that allowed what’s essentially weed to sidestep the regulation their competitors faced - and there wasn’t great consumer awareness about the differences even though there were safety implications: https://drexel.edu/cannabis-research/research/research-highl...
This law seems pretty well targeted in its scope, bringing the 2018 law back to what was intended (easy legal CBD/hemp, as long as there aren’t other things in there).