@Perry. My whole take on the industry might be cynical. However there are hundreds of ingredients that are regarded as anti-acne, antioxidant, antiinflammatory, skin lightening, anti-aging e.t.c Vast majority (99%) do not have any visible effect on the skin.
Niacinamide is said to have antiinflammatory, anti-acne properties, but I am unconvinced about those claims. I still consider it as one of the beneficial ingredients to the skin, but most ingredients do not have any benefit on the skin. They’re simply overrated.