Not to dash the party… But hemp is really not that great of a plant. It was valuable because it is a weed that easily grows in yet-to-be-cultivated land and was key to rope construction.
I could write a similar dissertation on the digitalis or sonacae groups with their value in tropane alcaloids, fruits/seeds, etc. There are many things any given plant can be used for if one is willing to exhaust the entirety of the plant.
That said, there are better sources of wood fibers. Better plants for oils, foods, etc. What most of the bloated hemp research boils down to is people who feel they need to argue the legitimacy of the desire to get high without being bothered by the cops.
It's not some kind of miracle plant that is being suppressed. If anything, I would argue it is being used as a disinformation platform. Hold a common recreational drug hostage and publish inflated claims that it is a miracle cure for the world… Distract from the very simple issue of "why do we need permission from the government to smoke something?"
This whole line of reasoning subtly shifts the discussion onto the idea that a substance or habbit need be justified to be legal, rather than its illegality be justified.