Look at what the drug issue has done for the Libertarian Party since they made it their signature issue.
The problem at the Party level is that practically made it their ONLY issue. And I admit, the legalization rationale does sound ridiculous standing on it’s own, until you quantify it within an overall movement toward smaller, less intrusive government, and the elimination of the welfare state as a whole.
The Libertarian Party has failed to craft that message as part of the broader move toward smaller government. Purists are only good at picking one issue and running with it...they typically don’t have the mental depth to make it part of a broader strategy, nor are they adept at effectively communicating that strategy. And the Libertarian Party has been controlled by rather unrealistic purists for some time now, since the early 80’s.