Not really, a panacea is a drug that cures everything. If chloroquine was found to be an effective antiviral, it would only be a drug that cured two things. That's common enough to not warrant excessive skepticism taken alone.
If fighting covid means we need new drugs then we look at a long development time that will likely stretch the availability of a therapeutic behind the availability of a vaccine.
Obviously everyone knows that these things are needed NOW, all bureaucratic road blocks are removed save the really important and necessary ones. You cannot just hand out a drug to millions of people or inject them with vaccines without thoroughly testing their safety first.
Imagine if the "cure" to covid was long term harmful in a broad population, e.g. it affects 5% of the people negatively. The health, societal and economic impact could wipe the floor with covid.