I studied Amanita muscaria at my last job, it is hallucinogenic but taken in large doses is dangerous, it contains two psychoactive compounds, Ibotenic acid and muscimol, Ibotenic acid is less potent, and more dangerous, drying them usually converts Ibotenic acid to muscimol which isnt as deadly and more potent. It also depend son which variation of amanita muscaria you get, there are the red ones which look similar to Toad's head off Super Mario, or amanita muscaria var formosa which is similar looking but yellow. But amanita muscaria is also part of a fmaily of other highly deadly fungus such as Amanita virosa (destroying angel) and amanita phalloides (Death cap) which could be fatal ingesting a single one of either.
Amanita muscaria's buzz isnt similar to the Psilocybe's which the active chemical is psilocybin, so the buzz isnt the same and there are more negative affects that come along with the amanita buzz
Hope that helps, Cheers