First of all, just because other things did not work in the past, it doesn't mean things won't work in the future. What kind of logic is that? How could you possibly know what will happen without even taking the state of the art into account to make an educated guess?
Second of all, NOBODY here is saying Fidia's lotion will cure baldness. Nobody said that! There's reason to believe that s-equol can give performance similar to finasteride without potential side effects. As has been mentioned several times, equol doesn't mess with 5AR (which has other functions besides making DHT), is well tolerated in people (since we know soy eaters have tolerated it without side effects in the body), is confirmed by literature to selectively bind to DHT and no other androgens, and since this treatment would involve direct 1:1 inhibition of DHT, the dose response will probably not be super steep like finasteride and people will probably be able to *actually* vary dosage, lotion strength, application frequency etc. to tune their therapy. You see early finasteride treatment already works to preserve hair nearly indefinitely in most people. It's the side effects that are the problem. Fidia's lotion could be a fantastic replacement. The basis of the treatment is not new at all.