You're probably right. But you're being pretty negative. It's a theory that's worth thinking about. Some smart people with PhDs are thinking along these lines, lends it a modicum of credibility.
Yes, sure, smart people with PhDs thought lobotomy was good at the time.
This is not a correct argument. You have to show validity of your measure before posing it as a mechanism at least.
We do already suspect that psychedelics work by increasing connectivity (in some way) between units - people with PhDs as well. While this presupposes an even more basic albeit also complex "resonant" mechanism - with no evidence other than its own measurement - it is tautological.
Harmonic analysis will always show you resonances and frequencies, because that's what it is composed off. What if temporal relations matter? Magnitudes?
It's the same as with sound, look at frequency spectrum without time and conclude that's all that matters. We have already figured out much more about hearing and sound processing, which is complicated and adaptive since.
Likewise vision, including partial decodings. How does harmonic version help there?
Neurons are complex enough, spiking, chemical and structure driven that this approach is bound to be a dead end. It's simplistic, not simple.
It is akin to telling quantum physicists to just use old Born-Wiener process interpretation.