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And unethical.
You could argue placebos can be used unethically, but a harmless sugar pill cannot in itself be unethical. It's like saying sticking plasters are unethical.
Belief in the efficacy of homeopathy has built up over a long time, increasing its placebo effect. The more you believe it works, the more benefit you will feel. Up to a point, I'd be happy to be duped if it made me feel better.
And unethical.