Simeone continues to give Alvarez lots of chances to see his improvement. But unfortunately he couldn't make any impact on the game despite playing for the whole game. But he scored against Valencia previously so I hope he will get better slowly. I don't know maybe it is better to start with Griezmann instead while he is in a much better shape. Alvarez entered in the second half of the Valencia game and still scored in the end.
Julian Alvarez played quite well against Rayo Vallecano, he just didn't have much luck there. Besides, this was a game dominated by Rayo Vallecano, you can see that in the stats below.

Image Source: Google
From the data above, I think both teams deserve points, Rayo Vallecano as a team that has good statistics + playing at home & Atletico Madrid who is one of the strong teams in La Liga but playing away.