That's the first post of yours that I have read that makes any sense (you are the guy that announced - via your arse - that the Auscann caps leaked, I haven't forgotten).
It's a waiting game, IMO. You are right, the Australian market is small (very!). But this is by our governments design - this changes and the whole game changes.
I also think that it is not if (the horse has already bolted there) but when. If the Australian Gov does have a "tight regulatory regime" as you state and as expected then Auscann has a very good chance of success. The Government and Doctors in this country are very likely to control MM very tightly.
Canada and the USA have moved ahead and don't look like stopping - that paves the way.
If you piece together your own statements of your post it paints a pretty good picture. MM has and will be a tightly regulated regime - if it continues then this situation will be very good for some (AC8) and the end of others (the no-name products).
Right at this moment, having an entry product with significant differentiation and cash in the bank is the best position to be in, IMO. Timing is everything!
Mesoblast (ASX:MSB) will start to significantly reduce deaths of Covid19 in a few weeks with FDA approval of their stem cells to treat ARDS (yes, I'm cross promoting Ha ha ha) ALL IMO and the world and Australia will be a different place. MM will be seen as a possible answer for Australia to get themselves out of debt hopefully and Auscann will be high on the list to lead in a conservative way (just the way Scomo and Hillsong like it).
