I don't think so?
The binding of the NMDA antagonists prevents glutamate from binding to that receptor among other things. Glutamate is considered to be one of the neurotransmitters involved with learning, memory and our cognition.
I think our perception relies on that system because our cognition is used to process and make meaning from what comes through our senses. If that processing is disrupted and distorted, the connection between what we know and understand and what we are experiencing is influenced. This can ultimately even be disconnected through loss of coherence 'completely' which is I think what we call a hole, because whatever experience and memory formation there still is may happen in 'isolation', effectively another form of sensory deprivation (which has it's own psychoactive effects by the way).
Apart from the connection to our senses, what we know and understand is also being disrupted so it can get more and more difficult to recollect how things work or what they are conceptually. Thus we feel 'stumped', and 'crossed wires' can lead to bizarre thought patterns and ideation and misinterpretation of what we are, where we are, what objects are around us and how to interact with them the usual way.
Some nootropics are primarily AMPAkines while others also have influence on NGF and LTP etc. I think the 'older' racetams mostly are the former but they still apparently attenuate dissociative effects. I think that is because they enhance glutamatergic transmission that is still left and how that is connected to cholinergic pathways. This perhaps makes a critical difference in the hippocampus, and may lessen the effects from having 'goldfish memory'.
I don't really know if synaptic plasticity and LTP even enter the picture, but my point is rather that they don't seem necessary in finding an explanation for what dissociatives do and what they stop doing when you take nootropics.
If it was mostly an effect of (hippocampal) LTP being messed with preventing formation of memories, don't you think that the effects on person would be more like those of a patient with his hippocampus removed i.e. normal behavior but just a specific kind of memory problems?
Even if that is also happening on the side, just let's not forget that a primary effect of dissociatives is scrambling how we interpret the world. Enabling us to learn and remember what happens would IMO only enhance some coping and later recollection, but not fix perceptual distortion.
Correct me if I'm wrong, I am going on recollection, not sources right now. But in my defense: I did not take any dissociatives.
