It doesn’t. Or rather… well… it might, but there’s actually no scientific evidence that it does half the stuff that those seemingly blinkered individuals who are happily gripped in its greasy claws claim it does.
There’s evidence that it probably doesn’t do at least some what it claims to do though, but Ross Tucker, Professor of Exercise Physiology at the University of the Free State, hits the nail on the head with these two tweets detailing how that news will be handled by those in the Cult of Noakes™:
Just a reminder. It’s simply not scientific to only quote the studies whose outcomes support your agenda or narrative.