It does have a place...with the most pervasive and most applicable medicine of all time...aspirin. Aspirin was more or less discovered by indigenous native Americans who found that chewing on certain tree barks relieved pain. You guessed it, the bark contained salicylic acid the therapeutic ingredient in modern day aspirin.
But to a point, the pharma industry spends lots of time, effort, and money in trekking around the globe looking for home remedies. Remedies that can be converted into approved medicine for commercial sale.
As to natural remedies in the raw, that's a bit problematic. There is little to no control over the purity of these naturopathic medicines. It's a bit like getting marijuana over the black market versus getting it in an approved vendor in California. There is no assurance that the black market version is pure and safe, while the vendor version has some guarantees and must survive inspections.