I'm guessing they're referring to "DMT entity" as a metaphysical entity and not a shared hallucination? Otherwise, seems pretty rational actually. DMT has been used a long time in South America in the form of Ayahuasca, it wouldn't be surprising if there were religious entities inspired by it.
I dunno how insane it is, considering patterns of shared hallucinations between otherwise unconnected individuals before it turned into a well known thing, but it's certainly stretching the idea beyond anything realistic.
Dmt is a psychedelic that you smoke. It’s like 10x stronger than lsd, but lasts very briefly. Usually people report literally being transported somewhere else, and seeing stuff like this.
I thought it was Veracocha. I think you'd probably have a nice chance of meeting him on drugs in the 00s though. Carte Blanche was released almost 30 years ago.