There is a difference between industrial hemp and marijuana, nonetheless the path of least resistence appears to have been getting it ALL banned as a pernicious narcotic.
Now, I am not into any sort of drugs and I strongly recommend that others avoid them as well but clearly, on a scale of one to ten on which beer is a one and crack cocaine and LSD are 9.5s, marijuana and cheap wine both fall somewhere around a four. I don't really see how the one can be legal and the other banned.
I agree pot should be legal, regulated roughly like alcohol is. But I am skeptical of your 'conspiracy' theory. Also, I believe hemp product imports are legal. What's to prevent a business from growing low-THC hemp abroad (much cheaper) and just importing the products? You give Weyerhauser et al too much credit.