Community-based research offers the promise of equitable partnerships between researchers and historically marginalized communities, but its potential is often undercut by superficial engagement, rigid institutional structures, and systemic inequities in funding and representation. This essay explores the ethical, procedural, and structural shortcomings of current community-based research practices, highlighting the disconnect between stated goals and actual implementation. It calls for reforms to institutional review boards and funding processes, emphasizing the need for sustained community engagement, power-sharing, and accountability. By reimagining research as a collaborative, long-term partnership, the scientific community can move toward more just and effective public health outcomes.