You really think so?
Get real. The tobacco industry is selling a product that people are supposed to stick between their lips, light, and suck on. This is inherently dangerous. No amound of disclosure can change that fact. They will fall under the doctrine of strict liability for an inherently dangerous product.
The analagous situation would be that a warning label on a stick of dynamite does not mean that it can be left uncontrolled. The person who owns or distributes the dynamite is responsible when somebody blows themselves up, no matter how many labels there are.
Tobacco, absent government protection, will fall under exactly the same designation.
That's wrong, too---laws of this sort need to be changed.