I think this argument needs to get more granular.
With our newfound increased ability to look under the hood of the brain with things like fMRI, the research is getting pretty clear that there are few activites in life more irrational than compulsive use of certain types of drugs. Drugs that down-regulate brain systems, like amphetamine, cocaine, opiates or benzodiazepines.
In those cases, what goes up must come down, and you end up with less of what you wanted than when you started. For example, chronic cocaine administration results in lower dopamine levels which means a muting of pleasure from ordinary experiences.
People try to self-medicate a need, and end up worse off neurochemically, and the financial, legal and social cost can end up finishing them off.
What is really needed, in my opinion, is new research and development of new classes of safe, sustainable, mood brightening drugs.
We would get very far just by developing new classes of drugs that could reverse the damage done by chronic stress, depression and trauma.
Just the ability to restore a normal, healthy brain would eliminate the desire behind a lot of compulsive drug use.
The SSRI class works partly by kickstarting hippocampal neurogenesis. The currently in clinical trial NSI-189 is an improvement in that regards.
Work should also be directed at finding ways to restore youthful dopamine levels in aging humans.
We could put an end to the truth behind lyrics like "Life goes on, long after the thrill of living is gone"