Right. Somehow the hemp enthusiasts never seem to be interested in the other bast fibers - flax, jute, kenaf, manila, etc. Those all have major industrial uses. Hemp - just doesn't. Hemp rope went out towards the end of the sailing ship era, when manila, which doesn't rot from the inside out, was found.

The real action now seems to be in bagasse, the leftover strands after extracting sugar from sugar cane. It's a waste product from sugar mills, so it's really cheap, sometimes free. It's made into biodegradable containers for fast food, replacing styrofoam. Many of those little white clamshell boxes used for food delivery are now made from bagasse. It's also possible to make oriented strand board from bagasse, although that hasn't really caught on.

There's huge amounts of agricultural waste available very cheaply, if you have a use for it. Ethanol fuel from cellulose was a hot idea once, as a way to do something useful with corn cobs and stalks, but it's just not cost-effective.