We're slowly realizing that there's not actually a difference between dangerous drugs and miraculous medicines. The dose (and the circumstances) make the poison, always.
But yes, we're very much realizing that DEA scheduling is not based in evidence (and actually prevents gathering of further evidence).
It hammers your liver really hard, especially in combination with alcohol. In fact, it's the foremost cause of acute liver failure in the entire western world.
The kicker: it doesn't even work very well. Other pain relievers are much more effective, and have a much higher margin of safety.