¿Effective? I don't understand your point.

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.

Sure, but maybe you have a goal that can be achieved with either method, even if doing so feels different. If they'll both achieve the goal, foregoing the inconveniences of drugs sounds pretty great.