Are you sure it’s hype? Maybe Ketamine really is an effective antidepressant in the acute setting.
Bad choice of words. It actually appears to be quite effective, but there will be a strong headwind before getting it into the clinic (or more appropriately, into the ER/inpatient Psych setting) because of the abuse potential. Much more likely will be the emergence of scopalamine, which apparently has some of the same immediate effects.