if legal pot is $400 an ounce only the fools will be buying it. The illeagal market will half that price and quickly.
When major corporations get into this you will have slickly packaged and marketed products. If and when Congress legalizes pot they will create a licensing and taxation structure resembling the U.S. tobacco or alcoholic beverage industry. They want those taxes. The tobacco companies already have the industrial infrastructure for producing the cigarette form of pot. Such a scenario could provide a tax windfall and at the same time bring the price down to levels far below the illegal market. The current free form industry would be outlawed. After that most consumers will prefer the legal products just as most liquor consumers choose packaged whiskey over a jug made in the backwoods.