The sad truth is there are many diseases that need cures, and hair loss is not as profitable or "morally" attractive to pursue as many others. In some way the OP is right, traditional pharmaceuticals aren't ideal for curing disease, but they are cheap and easy. For decades the technology was not there to move beyond this, and there was little motivation to invest in it as profits were rolling in and investments in new technology are risky. This dynamic has changed in the last decade. Technology is there to pursue better options, and the race is on to be the first one to cross the finish line with more advanced medicines like gene therapy, immunotherapies, mAbs, cellular reprogramming, etc. The cure is coming.