I tend to agree that anything to do with the microbiome is probably a bad investment.
It's completely clear that the microbiome has a huge effect in human health and disease; the clearest illustration of that is the fact that fecal microbial transplant is quite a bit more effective than antibiotics in patients with recurrent C difficile disease.
But the microbiome is an incredibly complex system; in fact I would say that in terms of overall complexity it is far more intricate than any individual human organ. We're at the very beginning of understanding the microbiome, equivalent to back hundreds of years ago when anatomists were first describing the detailed anatomy of the body.
So yeah microbiome is way early. It would be awesome to have a "defined composition" microbiota transplant rather than just taking donor poos willy-nilly for transplants, but even that is pretty far off.
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