I have the suspicion though that it may not end up being as big of a deal as people fear.
Not a big deal? The legal ramifications are enormous. With one law, the UK has made everything illegal unless they specifically permit citizens to ingest it or inhale it. Such sweeping laws are typical of totalitarian dictatorships, not democracies, and the ill effects will only increase with time as the UK goverment uses this law to put the screws into the population. In the US, alcohol was once banned by constitutional amendment thereby generating a massive crime wave, but now the constitution is just ignored and drugs are banned by bureaucrats in the DEA, creating the largest prison population since Stalin. So expect this UK law to be the beginning of a social disaster even greater than what the US has experienced.
That does make me wonder. Will people have gotten jobs on the merits of using noots and be pressured to seek potentially dangerous company (the Al Capones of noots/supplements) in order to maintain their career, health, and lifestyle?