I don't think this is anything to get too alarmed about.
There is a way around almost any regulation.
For instance, I'm coming to vaping from smoking.
I don't pay $10 a pack, I pay around $1 a pack because I use 'pipe tobacco'
If that was to be banned (and if I continued to smoke) I would buy my tobacco in leaf form, and there is no tax because it is not in its final smokable form.
I imagine that the same will apply to nicotine - any taxes etc will probably not apply until it is made into e liquid.
Same goes for flavorings, PG and VG - they are not e liquid until you mix them all together.
True, you will only be able to make it for personal use, and this will put many (most?) E liquid manufacturers out of business, but it doesn't have to be the end of vaping.
I'm not sure how this will affect PV's themselves, but there is plenty of time to stock up on mech mods (no electronics to fail) stainless steel (ie no glass to break) tanks, rebuildable decks etc.
Resistance wire for coils will not be banned.
18650 batteries will not be banned.
It will be crappy, but it won't be the end for those determined enough to vape.