There are some studies indicating that ivermectin may be helpful in treating covid. But those studies are small, not statistically strong, and not all necessarily trustworthy. There are a few larger, more mainstream studies that don't look too promising. But ivermectin is still a candidate and deserves further study (and there are larger studies underway).

All that being said, this whole situation is basically an amplification of a problem that we already have in the US, which is the ability of pharmaceutical companies to advertise directly to the public. Social media and right wing news outlets are basically giving medical treatment recommendations to the public and at best, this information is being delivered for the most part by fringe doctors without direct expertise in treating respiratory diseases and without any knowledge of the individuals they are mass suggesting receive this treatment.

This talking directly to the public about Rx only treatment is what has led to people self medicating with the livestock version of the drug.