Discovering a recipe is not quite impossible. Two problems arrise: do you want it to be exactly the same, or just want to feel the same? And how much are you willing to spend on reverse engineering?
The first question is based on a self discovered truth, that is "I can only feel a part of a complex flavor" for example a tobacco recipe, to me is nutty with vanilla, to somebody else is sweet hay. By replicating the personal effect of the flavor you copy the part of the recipe as you feel it, but it won't feel the same to somebody else as the original flavor did.
The second question is involved if you want the exact recipe, then some GS-MC (gas spectrometry-mass cromatograpy) is needed and that can bump the cost a bit. I have access to such a GS-MC device, and used it to test various bases for purity. Did try to reverse engineer a few ready-made liquids and all I can say it's not that simple to do, specially tobacco flavours tend to be complex beasts with dozens of singular compounds, and you need a lot of diy flavors analized to make a "signature base" to help determining the recipe.
As ethic concern I tend to believe that the gain is larger than the loss, the few people replicating the recipe will be mostly "open source" guys, publishing the improved recipes and helping the company, while the mass of consumers will just stick to buying ready made juice and not bothering with liquid alchemy.
My 2c
