Fundamentally this industry is still very young. That being said, the bubble we saw in Feb./March could seem like a bump in the years to come. Companies will be weeded out --no pun intended-- and the macro economy could flounder again before then, but by and large, sector value should grow.
Will there be a subsequent bubble with further legalization in fall? That depends on what will make the media money. I too doubt we'll see one again in the short term, but I don't believe the real bubble has yet arrived either.