I read the french research at the time, and it was immediately obvious that it was deeply flawed. Asking around in more expert circles, that did seem to be the uniformly echoed initial reaction even then, from day 1 (not that that means it couldn't have worked, just that the paper that sparked it all was not convincing, at all - but absence of evidence isn't strong evidence of absence in such cases). In retrospect it seems obvious people were looking for some kind of light at the end of the tunnel, and too willing to ignore the warning signs.
The case for ivermectin is not a slam dunk. But it's definitely surpassed the low bar that HCQ set. There is at least quite a lot of suggestive correlation without trivially obvious other explanations, and the data set isn't just "a few people non-randomly selected".
To my non expert opinion the ivermectin case seems at least plausible, whereas HCQ was clearly and obviously nonsense. Still, I'm skeptical, partly precisely because there still hasn't been a slam dunk study and because quite a few proponents seem to have a worryingly conspiratorial view of the world. Stuff like assuming it's not being pushed because it's off patent screams conspiratorial thinking to me, and you hear that quite a lot. And that's a warning sign, because there are quite a lot of interested parties here that really don't care about some pharmaceutical companies profit, and in any case - just because they don't fund it doesn't mean they'll go all Machiavellian and intentionally prolong the pandemic just to sell a future drug, and actually get away with it to boot. At best, the lack of exclusivity might explain why there isn't a specific corporate backer for this research, but it doesn't explain why all of the governments and universities and hospitals etc aren't finding convincing data. So when people see a conspiracy here, I wonder how rationally they're looking at the evidence for Ivermectin, too - and at the end of the day, I'm just a random worried person without the capacity to deeply understand every single relevant bit of data, so I need to be able to find trustworthy sources and research. People that see conspiracies everywhere (without data and without real reason) don't inspire great trust in their analyses.
Still, it's hard to resist the lure of the cheap and affordable silver bullet...