They don't need a 'product' at all, just a way to get money. They can go to old-fashioned 'protection' rackets and such.

Impossible to make this kind of money with old-fashioned protection rackets (or gambling or prostitution) these days.

The effort for someone used to drug profits is clearly not worth the reward. Will there be a few who turn to that? Sure. But I claim that the effects on society will be miniscule if felt at all.

I would like to share your optimism, but I don't believe that sufficient evidence exists yet to back it. After all, it's not always true that changing black markets into white markets is a net good for society. There are still black markets for slaves, after all, and more slaves today than in the past, even if the proportions have gone down.

Please. They're already in Mexico's government.