I think it can be seen both ways. It can be a psychedelic in the literal sense (mind-manifesting) for sure. On the other hand, the experience is different enough from the classical or serotonergic psychedelics for it to be useful to be differentiated sometimes. So I sometimes call it a psychedelic and sometimes a dissociative, depending on whether the context makes the differences in the experience important or not.It's just not a classical psychedelic, but depending on what definition of psychedelic you use, based on effects and experience, it's psychedelic to many people.
One love
PCP it's chemical cousin may fall into this new novel category, but I wouldn't know as I haven't tried it.