It isn't "legalized" if you have to jump through so many hoops that the "legal" stuff costs 300 bucks an ounce plus your personal info at a dispensary. There's a continuum between illegal and legal. A famous Supreme Court Justice pointed out that "the ability to tax is the ability to destroy." Most legal pot is taxed so heavily that its still profitable to undercut it with illegal grows.
In contrast, alcohol, even with its heavy taxes, is cheap enough that under-the-radar moonshine isn't all that economically viable.
Just think of how much the government can make if they legalize meth and heroin! That was the libertarian argument forever until now it’s gotten to the point they want zero restrictions of their drugs at all. Most probably don’t even want an age limit, cause that’ll cause ‘illegal activity’.