Much pessimism on this forum, and after being on these forums for a couple years now, I can't really blame anyone for having that attitude.
BUT
However long it might take there is some progress being made, and money being invested, so to straight out say it's hopeless is a straight out lie. Hope does exist, but how much hope you have is up to you.
Now we have 3 CREDIBLE companies working on this, and if you look at Aderans which has been around for almost 10 years now (crazy to think about this in retrospect), their estimated completion date for current trials is February 2013, which is only about a year from now, and if this is actually successful, I'm guessing the procedure will be available for a high price in a select few clinics that will probably be overbooked, and might not even be in the US at first. They also bought out what was left of Intercytex so I would assume they've learned from what went wrong in that. Truth is, we don't know if it will work until February 2013, they won't even know if it will work until then since it's a double blind study.
Science is incremental, so I don't even think Intercytex was completely in vain, as Aderans did end up buying the intellectual property, and if Aderans fails, I'm sure Histogen or Replicel will buy out what's left and learn from these failures. These are scientists working with some very technical molecular biology, so any research they acquire, even if it didn't lead to a treatment, will likely help them tweak out whatever it is they're doing by adding to their knowledge of cell proteins and things like that. Aderans acquired whatever findings Intercytex had, and still felt what they were doing was worthy enough to proceed forward with, so I strongly expect better results in their trials than intercytex. Aderans is also currently running the most intensive trials on a hair loss cure EVER.
Now, very recently Histogen won a lawsuit against Skinmedica which allows their research to continue. One thing I found out that is not listed on the official Histogen website is that they have commenced trials and are recruiting. It is in the Philipines, so I would assume you have to live there to be in it hah. With Histogen we find out if their Phase 1 trial amounts to anything around June-December, 2012, so it's not too far away. The results are anyone's guess, including the people working at Histogen themselves.
http://clinicaltrials.gov/ct2/show/NCT01501617?term=histogen&rank=1
Legitimate government FDA trials website showing all currently running trials on androgenetic alopecia treatments, of anywhere this would absolutely be the place to find out what is going on:
http://clinicaltrials.gov/ct2/results?cond="Androgenetic+Alopecia"
So in conclusion, don't be hopeless, but remember to look at this objectively at the same time. Also don't obsess, because if there's anything worth knowing about, you only need to check up on these companies about once every 6 months. You'll go mad if you keep checking every day for an update, though I'll probably be doing it anyways haha.