Research in using psychedelics for mental health (and recreation) is great and delayed by many years due to stupid and misguided regulations.
In smaller doses I think most people will experience a positive trip if they have a good set and setting.
In higher doses though, the trip is more unpredictable and harder to control. You can't overpower negative thoughts as well because your brain works differently than you're used to.
I can't begin to explain how scary it is when time starts slowing to a crawl, looping and your mind and thoughts don't make sense anymore. Some people never really come back from that. Taking a "heroic" McKenna dose of 5+ grams of mushrooms is extremely stupid and dangerous. Don't do this.
Likewise I think self-medicating with psychedelics to fix mental health is very risky but some risks may be worth it I suppose.