Yes. I have at least a decent understanding.
I-1100 would get rid of liquor stores and liquor taxes. It would establish new licenses which benefit large retailers with many outlets. IIRC it also instructs the legislature to recoup the substantial taxation difference between 1100 and current levels.
1100 harms small business breweries because retailers only have a certain amount of space in their store for alcoholic beverages (or any products for that matter). The profit margin on hard liquor is higher than for small microbrews so the microbrews will probably be forced out of the market.
I support privatization, but I think this is an issue with too many interest groups and conflicting interests to be solved via initiatives.