Not sure how well this article has held up to time but Scott Alexander had a pretty compelling analysis of the situation.

https://www.astralcodexten.com/p/ivermectin-much-more-than-y...

The tl;dr, as I recall it: it seems ivermectin really did work in some populations, in reducing COVID mortality. However, those populations were ones where one was much more likely to have worms, so the hypothesis is that indeed did work, but only because it worked as a dewormer and not having worms concurrently with COVID decreased the likelihood of mortality.