You could be right about statins, although I gather for some they appear to be a good idea. My doctors are pushing them on me, I'm firing the doctors sequentially hoping to get one who will listen (e.g. absolutely no cardiovascular disease in a long lived family) ... the major argument for their being first line treatment is that nothing less works in practice (e.g. "get more exercise). However that doesn't change the principle WRT to drug development today.
What "modern new-school psychotropics" are you referring to? That's a field I know a fair amount about, and I don't see the problem you're citing at all (which is not to say some aren't over-prescribed, but I believe that is a different problem). I would probably be very ill or dead without one (low dose, off label Seroquel to treat anxiety which I have a family disposition towards; it's the difference between 4 and 7 hours of sleep a night, bright light treatment gets me the final extra hour I need).
It and the other atypical anti-psychotics seem to be a lot better than the older "typical" ones, and those were miracle drugs, something witnessed by my mother when she was a nurse. Similarly, the current Prozac and beyond anti-depressants are maybe not quite as effective as the previous tricyclics but their side effect profiles are a whole lot better, e.g. making it more likely a patient will wait those out long enough for the therapeutic effect to begin, and I personally benefit from a laser specific SSRI (doesn't touch anything else), since "wrong" anti-depressants can make me manic.