There’s benefit in aspects of traditional Chinese medicine - just as there is in their traditional philosophy. (People here aren’t constantly quoting Lao Tze and Sun Tzu for nothing.)
Chinese culture existed for thousands of years before the communists came along and ruined everything.
I’d say a lot of it is the placebo effect, people expecting something to work.
Though many of our modern manufactured drugs had natural origins and some old-school medical practices do help many people.