The reality is psychedelics may be the only meaningful medical treatment we actually have for depression.
[1] https://www.webmd.com/mental-health/news/20080227/antidepres...
[2] https://www.frontiersin.org/articles/10.3389/fpsyt.2019.0040...
a) Other ways of achieving peak experiences and senses of connectedness, wonder and awe, be that mindfulness/meditation, being out in nature, flow states, breathwork etc. which are more often accessible to everyone, for free and without needing to involve big pharma and may have less side effects, supported where necessary with the same complimentary (talking) therapies that run alongside the psychedelics.
b) Challenging some of the potential underlying causes, I'm not suggesting this will apply in all cases, but stress/burn-out, financial pressures, lack of meaning, lack of connectedness, pressure from social media, inequality etc.
Ketamine treatment takes an hour, with virtually no chance of side effects, and you'll know if it works within a few hours. Even if it only works for a tiny percentage of depression sufferers, it should be first line treatment. As it is, it seems to work for a reasonably large percentage of people.