A increasing number of studies points toward beneficial effects of psychedelic experiences if administered in the right setting. A smaller number of studies present explanations for why psychedelics have these therapeutic effects. Of these most argue that psychedelic experiences increase neuroplasticity, allowing subjects to let go of unhelpful entrenched beliefs. I argue that (1) psychedelics are likely therapeutic because they help subjects align their beliefs with their respective contexts; (2) relaxation of entrenched beliefs need not occur at higher cognitive levels concerned with the self or ego to be therapeutic; and (3) the proneness toward having supernatural entity experiences can be explained using this contextual approach. I conclude that therapeutic effects of psychedelics are not necessarily tied to beliefs about the self.