Herbal medicine has been around for thousands of years. As with anything, it depends on the quality of the herbs you use and having a knowledgeable practitioner to help you determine your needs.
One thing that herbal medicine tends to get right is tracking problems to their root rather than just chasing symptoms. If you have chronic headaches, your doctor is likely to give you a pill to treat the headache, but may not analyze your diet, lifestyle, stress levels etc. before prescribing a treatment.
Most herbalists and other natural health practitioners look at the “whole person” not just the particular symptom.
There is room for both and herbal medicines can be very effective when used properly.