You'd be surprised (or not) as to what the human race has been eating and inhaling for the past 50 years
We have only been inhaling vegetable glycerin for a very, very brief time (historically). Any previous inhalation of vegetable glycerin (pretty sure it's used in those air ionizer/atomizer things for inhale-able medicine, like for kids and stuff) was in VERY small quantities, nothing like the amount of VG I'm inhaling when I take a rip on my box mod at 50W.
Not tryna argue, just saying that there is no evidence or lab result that'll dictate what we might find out down the line. Along with that is the undeniable fact that there is "USP Grade" and that's the only classification really. There is no VG that is approved for inhalation, whether by an independent lab or by a large government entity (cough, FDA, cough).
Also people often mention, "Well it has been used in fog machines for years!" but fog machines don't actually use VG. While it does produce a thick, marvelous fog, it leaves residue behind. Also, if you ever get the chance, throw some straight VG in a fog machine. It'll sort of "leak" water out of the nozzle as it sprays the fog, sputtering and spitting all over the place. It's not an ideal solution for someone trying to fog a stage, or somewhere that people are going to be walking (let alone dancing or anything). "Fog Machine Fluid" is very different from vegetable glycerin.