It definitely isn't a cure but it might be an effective treatment. Although detractors have all but written it off, there are some early signs the hydroxychloroquine/azithromycin combo may be effective.

Doctors in Bahrain are administering it to patients. The government says it was effective in "alleviating the symptoms of the virus and reducing its complications." https://www.al-monitor.com/pulse/originals/2020/03/bahrain-claim-success-anti-malarial-drug-coronavirus.html#ixzz6I47tr8BO

A small French study found that "hydroxychloroquine treatment is significantly associated with viral load reduction/disappearance in COVID-19 patients and its effect is reinforced by azithromycin." https://www.sciencedirect.com/science/article/pii/S0924857920300996

South Korean doctors also found "some success" administering hydroxychloroquine to COVID-19 patients. https://www.local10.com/news/local/2020/03/28/desantis-shipments-of-drug-hydroxychloroquine-to-help-covid-19-on-way-to-florida/