As far as I know, alcohol (ethanol) is sometimes used as a medication in methanol poisoning (Jones, 2021), and of course also as a disinfectant.
While alcohol in low doses has some positive effects (for instance decreasing anxiety, reduced time to sleep and also perhaps also some cardioprotective effects though this is disputed), the side effects and negative long-term health consequences are much more prominent. In fact, more and more experts on the topic seem to hold the view that there is no safe level of alcohol consumption so with that in mind, using alcohol as a medication when there are other, much safer options, seems like a bad idea (Topiwala, 2021).
Alcohol might have "beneficial and desirable" effects on you - for now. However, there are very real risk of addiction and a multitude of physical health risks down the line.
Regarding your question about similar substances, there are a class of drugs called benzodiazepines. They are not structurally similar to alcohol, but their mechanism of action mimics the main mechanism of action of alcohol, which is increased signalling of GABA-ergic neurons in the central nervous system. In fact, alcohol and benzodiazepines are cross reactive, which means that benzodiazepines can and are used in the treatment of alcohol withdrawal. Benzodiazepines share the effects of alcohol on anxiety and sedation, and are used for anxiety and insomnia.
However, while less harmful than alcohol in many ways (Nutt et al, 2010), benzodiazepines are also highly addictive and should preferably not be used as a continuous treatment.
I hope this answer helps you.
References (as suggested by another user in the comments):
Jones AW. Clinical and forensic toxicology of methanol. Forensic Sci Rev. 2021 Jul;33(2):117-143.
Nutt DJ, King LA, Phillips LD; Independent Scientific Committee on Drugs.Drug harms in the UK: a multicriteria decision analysis. Lancet. 2010 Nov 6;376(9752):1558-65.
Topiwala A, Ebmeier KP, Maullin-Sapey T, Nichols TE. Alcohol consumption and MRI markers of brain structure and function: Cohort study of 25,378 UK Biobank participants.