Yes, it's basically "synthetic psilocybin". Easier for long term storage without degrading like shrooms will. Due to the fact it can be capped and taken as pills it also will come on a more regular and predictable way rather than the waves that shrooms tends to come on as it is metabolized.
Took it after taking a hit of acid. I found it to be a bit more 'DMT like' also, although I think psilocybin also becomes more like if you have done it after you have done a fair bit of DMT over an extended period.