Been there, done that
The sensation induced by binaural beats are based on brain waves synchronisation, basically we get control of the stick shifter of the brain, and we perceive the changes strongly, as they are much faster than usual.
TLDR: you definitely feel them, and it feels a bit like getting high.
Chemical induced states of altered consciousness are of a fundamentally different nature. Keeping the car centric metaphor it would be like switching the type of fuel you are giving to the engine. It feels different, for different reasons.
Can't claim it would produce the same results for everyone, but I provided a free, low friction option for anyone curious.
This isn’t well known because his name was (deservedly) mud at the time, but Timothy Leary did a lot of work with sound and lights. He did his light shows when he was a pop guru, but he was even doing this work before he got fired from Harvard.
At the time, he considered it following the history of altered states. In the nineties when he had mellowed out, Leary started talking about lights, sound and technology. Here’s one example:
https://www.sidjacobson.com/Portals/23/articles/Tim%20Leary%...
I’ve had a few experiences with non chemically induced altered states. They’re psychedelic-ish, but not really comparable to a substance like psilocybin. They’re definitely altered states, just while I could draw a picture to describe mild effects of psilocybin to a non user, I couldn’t with music and light.
They’re both altered but very different.