>> there used to be virtually no placebo effect for depression; now there's a strong one. this presumably mirrors the development of effective placebo chemical medications, so now someone receiving care for depression can imagine getting better, whereas before it was essentially untreatable and patients knew it. <<

A huge problem with that is, it floods the market with fake drugs that don't really do anything but which cost ruinous amounts of money. Same problem as with cold meds only much worse.

Also, anyone for whom the placebo effect doesn't work, has a difficult or impossible time convincing health care providers of any kind that most medications are less effective or ineffective on their particular body. Often that means getting no treatment at all because there isn't anyone around willing or able to work with that limitation.