Yeah I wouldn’t say alarmist but this is likely a non issue. Under the current system, every legal state is breaking federal law in a bunch of ways, but the DEA and other agencies have not acted. Technically putting it in schedule III would mean it could be treated like other substances in that schedule, available only with FDA oversight, but that is not likely. Basically everything has been totally hands off so far, so it’s very unlikely that the government reducing the level of control of cannabis would lead to agencies increasing their control.

The biggest threat at the moment imo is a Trump presidency, but based on his comments about Florida’s ballot initiative, his “change with the wind” opinion is currently also in favor of not sending people to jail for it.