Take something that inherently doesn't cost much money, patent it and jack up the price 10,000%. No wonder why they are betting big money. That is the broken western medical system. Substances have no medicinal value until big pharma comes along and patents it, then all of a sudden it has medical value. No it didn't have medical value all along.
Your cynicism is understandable. Though the fact that big pharma shows interest in psychedelics doesn't automatically mean that they are "inventing" medicinal value. If you look into the research, the therapeutic potential is clearly there. This is the reason MAPS (non-profit) and other organisations have been promoting scientific research despite non-rational legislation for decades. The involvement of big pharma means rescheduling of these substances is much more likely than it ever has been. These guys bring in the big bucks for the large scale research to make that happen. If I have to choose between availability of these substances to those who can potentially save their life with them while filling the pockets of big pharma or no availability at all, that's a no brainer.