copy/paste from another forum but this is spot on and i agree from my own experience. YMMV...
It's an incomplete theory. About women. Based on biology. Written by a bunch of men on the Internet. Most of whom are "red pilled," i.e. resent women based on negative experiences in the past. All of us have negative experiences in our lives which we have to forgive and forget in order to move on.
They also don't take women's perspective into account nearly as much. They argue from biology but tend to forget society's influence and how women are raised.
Then the recommendations for men are typically prescribed in an easy to follow format such as: Be aggressive, relentless, never show weakness, etc. Based on performance (output) instead of beliefs (input).
The bottom line is that your beliefs and your character are going to determine a LOT in your life, not just about women. It takes persistence and practice to get good at anything. That includes meeting women for casual encounters, and building a trusting relationship. For most men this means that they want to take the easy route. They want to take the red pill, the blue pill, the black pill; whatever it takes to not put in the effort to build character (confidence) and social skills.
The only red pill you need is The Manual. And maybe how to be a 3% man. However, even those books are missing key pieces of information, like the differences between a "strong man, good provider," and "exciting man, good lover", and what that means when you meet a woman. Because if you don't know the difference between a lover and a provider, then how do you know which one you are? It is still a false dichotomy, but a much more palatable and accurate one than alpha/beta.
The truth is that a lot of men these days are trying to project an image. They are trying to be someone they're not with women. And they're confused about what kind of an image they should be projecting. Some men are genuine, and have changed their beliefs according to what they've learned from their experiences. These men are a lot more balanced in their approach, which by definition is far more healthy, but they still lack a woman's perspective because they are still loving conditionally. E.g. you love someone when they give you what they want, but when they don't give you what you want, then you hate them. Typical of modern relationships.
If you want to be in the top 20% of your field, then you need to be constantly sharpening your skills by learning and practicing. It's the same if you want to be in the top 20% of men.
The red pill does one thing correctly, through collectivism: It causes men to unlearn the unattractive set of social skills that they've acquired, and it causes them to examine their belief set. You may also say that it goes on to motivate men to improve themselves, but I disagree because many of their beliefs are counterproductive to success in life.
Lastly, if you want something in life, then focus on what you want. Don't go focusing on what you don't want and learning about that. For example, don't buy into the stock of someone who is divorced or has a history of unhappy relationships.
In closing, those are my thoughts on the subject. You don't have to adopt identical views as me.