It depends on how you look at it. Yes, the government in New Zealand is going to regulate and tax e-cigs, but it's has been illegal to sell them until recently. The tax rate will be high, but not as high as on
tobacco. The government will be doing some studies on e-cigs as a smoking cessation device, something that should have been done long ago anyway, we all know that's what it is most commonly used for. HealthNZ is trying to price tobacco out of reach of the average person, while maintaining the tax income the government derives from tobacco sales, but at a lower rate.
So, would you rather e-cigs be illegal?, or at least have access to them. The legalization of e-cigs and nicotine liquid is a good thing for
vaping in NZ. The state of affairs in the EU is still in question, at least NZ doesn't appear to be considering a total ban.