So, yes, you agree the "faster" market will produce a larger quantity of sugar pill fraud because you are so willing to dismiss it as "obvious", yet you won't acknowledge the other kinds of near equivalent fraud such as silver pills, horse dewormers, and more.
Sure, sometimes the FDA is slow to approve drugs that have science behind them. Or from other countries that proved efficacy and safety. But frankly people can already do whatever they want with regards to health. The wellness and alternative medicine industry is larger than the actual pharmaceutical industry. Your fears are unfounded.