I'm not personally defending alcohol, but I think the reason it works for so many people is as long as you drink moderately the effects aren't so psychologically divisive (it works about the same on everyone), the health effects aren't that severe, and tolerance to it doesn't quite work like it does with other drugs. Since so many people drink, it opens up the largest number social opportunities when compared to anything else.

Hate it all you want, but I don't think anything will ever replace it. All its serious competitors have been around for just as long. There must be some deeper biological reason for it to be favored so heavily. I really don't think it's just marketing and cultural norms.