Maybe not a whole industry, but try reading about the history of stevia. Sure, it's sold as a sweetener now, but before Coca-cola and Pepsi jumped on board the FDA tried to have it outright banned from this country, even to the point of burning cookbooks based around it. The only way it survived was classified as a supplement.
The people yelling taxes just don't quite get it yet. The FDA doesn't care a whit about taxes since most of their budget is NOT paid by you and me. Their budget is funded for the most part by the pharmaceutical companies, who are losing money on NRTs, and the tobacco companies, who are losing money on cigarettes. Will these deeming regs wipe out the whole industry? No, but it will certainly leave it in the hands of the cigarette companies, who will decide a year or two later that the e-cigarette industry isn't nearly as lucrative as they originally thought it would be and shut down those particular production lines.
http://www.reuters.com/article/2015/07/16/us-altria-group-pmi-deal-idUSKCN0PQ20L20150716