Inconclusive. The evidence that small amounts of alcohol has any positive effects is pretty weak, but the evidence that small amounts of alcohol have any negative effects is no-existent. Or more concisely, it probably won’t do you any good but it sure won’t do you any harm.
All these dietaries studies are very hard to get definitive effects for unless they are very strong. It used to be thought that alcohol protected from heart disease for example, but larger studies excluding people who were teetotallers for pre-existing medical reasons showed no benefits at all. Then another study that also excluded people who were teetotallers as well as having other dietary restrictions, such as Muslims, showed that the effect existed after all. Last I heard someone was trying o find a dataset that excluded everybody who was a teetotaller for any reason at all beyond “I felt like it” as well as excluding everyone who drank for medical reasons and anyone who had ever drunk to excess. All of which goes to show just how hard it is to even gather data on these things.
But every study I’ve seen does agree that there are no health effects from drinking small amounts of alcohol. Remember the body can metabolise alcohol because it’s a naturally occurring food source. Not only is it found in fallen fruit but your gut actually manufactures it itself if you eat enough fruit. And like most naturally occurring foodsources our body has evolved to cope with it and even benefit from it in small doses. It’s only when we overdose that it presents a problem.