I had an interesting encounter with baphomet once. Not on psychedelics, just in meditation, so it wasn't anything too intense or even visual.
Just the sense of a presence and communication outside my typical inner voice pattern.
Basically I was seeking power, and I felt an entity identifying itself as baphomet. It promised me power in exchange for my first born. I was like 'wow damn thats really fucking cliche', which in post respect I think was my own mind injecting cliche's as expected, over the top of the real message that I'll get into later.
I returned, "no I won't do that, however I will make people aware of you in return".
Then through a weird series of thoughts I basically realized this.
Baphoment and the pentagram is a symbol of the world right now. Think about the image of baphoment and all it stands for everyway. beauty and grotesqueness bonded together in non-duality, bisexuality, it's a reflection of the nature of the world right now. We have so much beauty, and so much that is ugly, and people on either side of the equation are ignorant to the other. Baphomet is a symbol which binds these things together, and as a whole is represented as somewhat ugly, because really to see the world as a whole right now I think is somewhat ugly when you see everything simoultaneously. So it seemed to me baphoment and the pentagram is a symbol of our current state we are in.
Then it became apparant to me baphoment wishes to be known, he wants 'first born', not for some evil thing, but for them to be aware of him, he seeks to be seen. The awareness of baphomet represents the awareness of the true state of the current world. He wants awareness of what literally is right now.
Which I probed 'why?', to which I got back, he is tired basically. He is transitionary, to the next level of the hexagram. The Hexagram is the symbol of the next phase of human existence that can be achieved by fully coming into awareness of the current state of affairs which is very pentagonal, baphomet-ey. You know how can someone escape anything or get to the next level until they recognize fully where they currently are?
It seems to me this is why the archetype of baphomet exists and what its doing. It tries to make people become aware of the ugliness of there failure to recognize the nature of non-dual existence, and to get them comfortable with the idea that your first true perception of non-duality, with how the world is right now, will be ugly.