Like any cult pseudoscience it relies on the placebo and nocebo effects.

It also does affect people for sure... For things like a very real ear infection... the a-holes will leave kids in agony for weeks before parents see a proper physician for antibiotics.

Note Psychoneuroimmunology is also interesting, but a more legitimate area of scientific study. It takes a deep scientific look into induced immune system disorders, and unlike cult nonsense it has quantifiable scientific studies (usually done with rodents) that can be replicated in your own institutional labs.

Cult Homeopathy is just expensive child neglect in my opinion... offering the worst outcomes for the naive and superstitious.