Edit: Mayne pharma 2014 did 4% of its ~$113M in US products in methamphetamine. So that's 4.5M from a single generic maker. Could mean the total is well over 9-10M annually.
1: Including hydrocodone, except if you mix hydrocodone with a liver-toxic drug like APAP, then it magically drops into the lesser Schedule III. Because screw people.
Yes, you risk addiction. You risk ruining your life. But you do too with a lot of existing drugs. Alcohol comes to mind.
The point is, with legal heroin, meth will be an ever-shrinking problem.
Regardless, it seems a bit reductive to theorize about a path-dependent phenomenon like addiction solely from the perspective of blood chemistry. Saying "substitute" implies that meth-heads are switching to heroin, which I already denied to be the case. They aren't switching to heroin, but their younger siblings, cousins, aunts, and uncles are using heroin rather than meth.
Among the negative externalities of prohibition are exacerbating the negative effects of addiction, by increasing the stigma and risk associated with admitting you have a problem.