The book "The Varieties of Psychedelic Experiences" by Masters & Houston reads: "To be hopeful and optimistic about psychedelic drugs and their potential is one thing; to be messianic is another. Both the present and the future of psychedelic research already have been grievously injured by a messianism that is as unwarranted as it has proved undesirable". Little has changed in the 55 years since the book was published in 1966, and current research on psychedelics for treating mental health problems has become infamous for drawing conclusions that do not follow from the presented evidence. In this lecture, I will discuss numerous problems with current psychedelic research that present obstacles to valid inferences. I will focus on themes such as clinical trial design (e.g. insufficient control groups and follow-up times, lack of blinding), validity (e.g. internal and external validity), measurement (e.g. outcome switching), plausibility (mental disorders often have root causes in the environment, which such drugs simply cannot resolve), and ethics (e.g. severe conflicts of interest of patent holders). Given the state of the current research and the ongoing unwarranted hype, I concur with Masters & Houston about messianism, and will leave being hopeful to others.