I was surprised to read that people working with pine and cedar can develop pulmonary conditions. It smells so nice. I never thought much of it.
Not just pulmonary, I'm a carpenter, never worked with cedar wood (it's not a very popular type of timber on commercial projects I work at) but I often work with pine, other softwood timber, as well as hardwood like oak, so I've been through multiple health and safety trainings. The dust from pine and other softwood can also cause dermatitis and as far as I remember, hardwood dust can cause nasal cancer on some rare occasions.
I highly doubt that occasional exposure to such wood and its dust can cause any problems, but if you do it 5 days a week or more often, 8h a day, this becomes a serious concern.
Same applies to vaping- if you were to vape on a toxine, you would be exposing yourself to it pretty much all day.
If you somehow find an extraction method that would preserve the flavor without extracting the toxins, it could be a win. Or find a way of removing the known toxin from a ready extract. But there is probably some sophisticated chemistry involved that requires advanced laboratory scenario, so I'm not sure if it'd be worth the effort and money.