My group spent a year modeling hemp in CA. I could never get the math to work. Numbers pushed = unverifiable. A group of investors purchased an industrial-zoned site near me for oil processing, Millions invested. After a year they closed up and the site is back on the market.
We were going to grow for oil. This was the first year CA legalized it. As you have touched on, CA did not understand the compounds and included THCA as part of the measurement and there was no way to reasonably manage the risk of going "hot" for commercial-sized farming. This actually happened close to us that first year and I believe a few hundred acres were destroyed.
We were optimistic going in and understood the risk of being an early participant. We just couldn't bite off that much risk.