it's interesting you state "Studies show it just doesn't work."
While we are commenting on an article about a drug which makes you feel less hungry, there by "eating less". The drug doesn't make you use more calories, it simply "makes" you EAT LESS.
Eating less(calories) than your body uses consistently for duration is literally the only way you can lose weight. (outside of literally losing limbs, or surgery to remove mass)
Exercise only augments the process, it all comes back down to EATING LESS(calories).
There are a number of pathways these drugs hit - dopamine receptors, they slow processing of food, and in tirzepatide's case at least increase insulin response. They're not just small portions in a shot.
I take "Studies show it just doesn't work" to mean "Studies show telling people to eat less and exercise more definitely doesn't work," as opposed to "caloric deficits don't work".