All the player and survivor knows about the pink tablet, from the item description, is that it’s a weird pill that makes you trip out and see crazy-ass stuff if you eat it. It could honestly be any drug you could imagine, or it could even me a Cata-specific not-real science fiction drug.
At the very most the basis of Creamy’s argument is that whoever labelled the id and wrote the wiki page on it wasn’t very knowledgeable about drug culture. While this is a crying shame, it doesn’t actually affect the game or change the (nigh-useless) purpose of the item so I don’t see it as a big deal.
Apparently pink tablets are tasty, and therefore good for morale. And some folks can’t get enough hallucinations, I guess. They’re not my bag, but there’s nothing making me use them.