Well Newton was seriously into alchemy so you never can tell.
Lead (atomic number 82) isn’t even that far from gold (atomic number 79).
Just because it happens to be physically possible to turn lead into gold using a model that alchemists would never have even comprehended (as their principles were based on hermeticism and religion, not experimental science) doesn't mean they weren't quacks, or that they were half right. They were quacks, and it's OK to see them as such.
The problem with alchemy is that there was no rhyme or reason to its method, other than mysticisim; it wasn't scientific in nature.
If it sparked chemistry, that's a good thing; but it doesn't stop it from being quakery.
Electrical engineering is more physics than chemistry for example