I can anecdotally confirm this, in the US there is a lot of CBD distillate/isolate being turned into delta-8 and delta-9 THC distillate which is then used in edibles, carts, and (speculating here based on the recent price) shatter/concentrates. I’m unsure about the concentrates, but it continues to get cheaper, nearly approaching the price per gram of weed (which shouldn’t be possible?)

A friend of mine has a CBD processing lab and CBD distillate crashed to about $1,000/L in 2019-2020, and hasn’t recovered afaik but I haven’t asked him in a while.