As the parent poster said, in most of the rest of the world, there are no such laws governing its use, and for some reason, nobody in it really has much of a need for this 'miracle' plant.
How do you explain that?
I don't know what those sell for but it's probably pretty hard to beat the price of what could be grown here legally.
Levi corporation announced just this year a line of the jeans and other clothes to be made with hemp. I think they're being made offshore but the point that it will take time for industries to ramp up for using hemp is made by that single case alone.
The market for it will surely grow from this point and likely peak and stabilize pretty quickly and, no, it won't be a "get rich bonanza" for farmers because it will grow almost anywhere here but it will be another crop they can grow and sell and that's good thing.
"There are no industrial uses of hemp to the degree that advocates claim."
That's a leap too far, especially considering the current chaotic state of the laws governing its use. There are surely advocates that also make leaps too far but the truth about the potential resides in the known uses, which are many, and those yet to come, which are also likely to be many.
Since China has a head start working on this we can assume it's likely they will be leaders in both hemp production and manufacturing hemp based products, and we can only blame ourselves if they are. But that still doesn't mean that the U.S won't invest in processing hemp grown here into useful and profitable products and when it does the cost and profits of production will stabilize.