I'd say Peter and the Holy Modal Rounders were speed and dope and acid Amricana not fey and hobbity whereas psych folk is what I might have called ISB on dope and acid and sitars if it had to have a name .ESPers today have that feel but with techno inputs.

PS was a bit scathing of hippiness but then he didn't get royalties for the Bird Song used in Easy Rider!