This means the drug has gone through the actual drug development lifecycle- Terrence is not talking about this.
>Acetaminophen is among the oldest and most commonly used synthetic drugs, and its mechanism is still debated
You answered your confusion; it's an extremely old drug (1950s) and back then we didn't really know anything about pathway targeting. The drugs that we have developed in the recent decades (post 2000s); we generally start from the target; the same story that i wrote in the main comment - so we do know about the mechanisms and the pathways that are targetted, down to the genetic level sometimes.
So if a new drug showed up on the market today which actually has gone through the above lifecycle; we could with a minimal effort put together 5-6 scientists and get a consensus on how the drug is actually working.
No pharmaceutical is testing drugs today which have no scientific theory or reasoning or seminal papers behind it.