It isn't being legalized, merely decriminalized. Possession will still be illegal, but if it's less than 15g there will be no jail time or criminal record.
IMO this proposal is the worst of all possible worlds. Outright legalization would be a devastating blow to organized crime and deprive terrorist groups of a lucrative source of income. This solution merely reduces the consequences of pot use without changing its status, which means the market for criminals will expand.
The proposed Canadian law includes fines of $100 to $500 for possessing up to 15 grams. Here in Ohio, its $100 for up to 300 grams.
What will there be? Will there be a fine?
Because with no arrest, no trial, no ticket, no conviction, no jail time, no criminal record, and no fine ... well, I call that a legal product. You don't?