I think his cynicism is completely warranted considering how many people are starting to view psychedelics as a panacea.
Do psychedelics offer an experience that could be part of, or even a spark a greater shift? Sure.
Could psychedelics provide temporary relief from things like depression and anxiety? Sure.
Do most people approach things that are talked about as a solution to life's most difficult problems in a moderate way? Very rarely.
Are there VERY REAL and SIGNIFICANT downsides to the misuse of psychedelics? Absolutely. Bad trips are very real and with real, long-term consequences.
From my experience with these substances and from my observations of many people who have also used them, I think we should approach the subject from a cautious point of view at the very least. We can throw around studies all we want, but as you pointed out, these are almost all done in a CLINICAL SETTING which is probably the most relevant aspect to the outcome of psychedelic experiences.