I agree that red yeast rice is beneficial for cholesterol. The problem with red yeast rice supplements however, is that they are not regulated. So no one knows how much of the active ingredient monacolin a supplement has. So while one supplement might be very effective, another might be completely useless.
The good part about statin medications is that you know exactly how much of the medicine you are getting and you know that it's going to work. With red yeast rice extract, it can be a hit or miss.