Soex is mostly nasty. Few if any enjoy it or go back for more. As to smoking it is any better than tobacco, as Dunkel said, no studies have researched what cane sugar mulch may do to one's lung.
Plus remember - anything OTHER than air is technically harmful to the lungs. Smoke is smoke - the amount of nicotine you get in shisha tobacco is less than ciggys, but it's still smoking either way.