Might be interesting, although I've always liked the visuals* of psychedelica a lot more than the audio effects (which in my experience, mostly tends to make sounds be perceived really "loud" and "close", rather than "trippy"--unless that's what you associate with "trippy" audio, of course). Dunno if my experience is typical, obviously.

* also the particular mind-altering effects, which are hard to describe

I'd be interested to see if the results end up looking something like DIPT which is the only known mainly audio hallucinogenics.