Yes, well there is a threshold under which you won't feel any effects (that would be sub-threshold). Slightly above that threshold most people feel euphoric, energetic and even social, that would be sub-dissociative. Go higher, then you start feeling dissociated, go even higher and you gradually lose contact with the outside world slipping into a K-hole. Even higher there is blackout (i.e. anaesthesia or narcosis).
Ketamine is unlike MDMA, an MDMA experience changes in nature because you deplete stores of chemicals in your brain. If you keep going with MDMA there is less loved up effect and more stimulant effect.
Ketamine does not deplete chemicals in your brain, but it does cause tolerance like many other drugs. Meaning that you will gradually become less sensitive to the effects and need a larger dose to achieve the same level. If you are a beginner, that does not happen to an appreciable extent though you can get more used to the feelings as the experience progresses. Whether you build up tolerance fast depends on what you compare with. The tolerance at the beginning is minor compared to chronic tolerance.
Also, if you are avoiding K-holes you build up less tolerance because you are not taking that much.
If you want to avoid a K-hole during a long ketamine experience, you need to take small increments to make sure that you don't suddenly rise up too many levels in effect strength. Also you need to wait long enough in between 'bumps' to see where it takes you, again for the reason that accidentally taking way too much can cause you to become more dissociated than you like.
Ketamine is addictive and the effects at low doses can be inviting to see what higher doses are like. Try to remind yourself that unlike with something like MDMA, the euphoria and sociability is not dose-dependent in a linear fashion: it does not get better and better, instead it changes like I said.
It would be more ideal to test the effects at home so that you have a better idea of how to handle it in a club. Experimenting in a club like that is risky unless you keep a good grip on your boundaries. Which get loosened by certain other drugs like alcohol. (By the way alcohol & K make a lot of people vomit, avoid).
If you are familiar with DXMs different stages of effect, it is more like that than like MDMA.