It has no effect, without error message, but setval(200) work fine
Misunderstand the doc or is it a bug (PostgreSql 9.6 x86 on localhost) ?
From the SQL Commands "ALTER SEQUENCE" chapter:
"The optional clause START WITH start changes the recorded start value of the sequence. This has no effect on the current sequence value; it simply sets the value that future ALTER SEQUENCE RESTART commands will use." (emphasis mine)