I would actually go further and say that an industry based only on CBD isolate would be no industry at all. IMO, that would be giving CBD just enough rope to hang itself.
In that world, everything would boil down to commodification. That is the world that finance people love. Everything is a bulk powder or liquid meant to be easily countable, or monetized. This leads to an industry like salt or sugar. Innovation would be castrated and differences in products would boil down to everything but CBD.
In a non-isolate world, where the hemp plant is treated without kid gloves and corruption, the innovation will thrive. You will have dietary supplements that differ like fingerprints, each with a potential edge over the next for any given application. There is already an aisle at Whole Foods full of these kinds of supplements. There are plenty of alcohol and glycerin based herbal supplements for sale that are explicitly not regulated by the FDA. There are tons of products like this currently available:
This approach supports the true intention of the 2018 Farm Bill in that it encourages the further development of American Hemp genetics. This is a goal of congress...to encourage creative breeding of new hemp genetics in order to lead the global hemp economy. This is not necessarily going to be leadership based on acres per year, but on quality and variety of selection. Congress specifically legalized ALL cannabinoids in the farm bill for a reason. They did not have to do this and could have just said Cannabidiol instead of Cannabinoids.
In a CBD isolate-only world, everything will be based on giant farms of relatively crappy hemp that will be grown with an inappropriate methodology. That is, it would be grown like fiber hemp, where there are 200,000+ plants per acre instead of 2,000 plants per acre. That will provide a very unhealthy environment for consumer safety because you can't even walk in between the plants to get to the middle of an acre in order to check for mold, bugs, or other issues. This is the world where everything breaks down to biomass and CBD percent6age points. In that world, what makes one CBD product unique when compared to another? Everything but the CBD.
As far as safety studies for secondary cannabinoids, there is no need for such a thing whatsoever. Dietary supplement rules were made long ago and there was never any need for any special hold up.
Definitely no need to reinvent the wheel just for hemp: