I don't see how it can happen that way.
Second and third generation products will NEVER meet the PMTA requirements.
Well, unless those requirements change of course.
But as currently written?
A snowball has a better chance in hell.
Sure they can, as long as they make sure that there proprietary connector cannot accept anyone else's atomizers they could, bigger battery, denser vapor, heck, they could even do TC, with a proprietay "system" they could control all of the variables including a few flavors of juice, which could be dispensed via some secure connection, or pre-sealed in a disposable capsule.
That date means nothing to someone with long range goals, they can take their time, maybe even finagle some sort or substantial equivalency incrementally improving upon their product line.
They are safe to steal the industry and re-make it their own vision, with their money stream neatly protected by the MSA's and the FDA being their muscle man.