The placebo effect can be very effective. That said, homeopathy is not only based on a dubious premise to begin with, but diluted to the point that the chance of it containing even a single molecule from the supposed 'cure' is effectively zero.
People given a sugar pill and told it's ibuprofen can mentally block pain. People have even had cancer go into remission on placebo - this is all on what is objectively useless as medication, but they believe it will do something, so their body does what the brain wants.

Homeopathy kills people by convincing them they can refuse proper treatment because their magic water will cure them, then it invariably doesn't. In some double-blind studies, the placebo has performed better than the homeopathy.

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