You are correct.
I am a true “native Coloradoan” growing up in Trinidad (just across the New Mexico border on I25). We still own a ranch outside of Trinidad.
When marijuana was legalized, Trinidad saw an incredible increase in sales tax dollars and a rise in the vagabonds who moved in.
Now, with New Mexico also legalizing weed, there is no incentive to stop and purchase the dope and the gummies.
Tax dollars are vaporized, but the small town has become a classic $hithole.
It’s like legalized gambling, when you are the only place that allows it, you thrive, but once everybody else legalized it, you become like Atlantic City. Vegas has the constantly innovate just to stay afloat, but eventually their time will pass, as well.