One thought I have is a comment of Eliezer's (somewhere on Facebook, I can't find it) that there's a difference between the "Inner Gates" and the "Outer Gates" that separate us from the Cosmic Beyond. Naive transhumanists get excited about all the ways humanity could transform into something majestic and inspiring even if alien and weird. This is what you get when you cross the Inner Gates. Whereas if you cross the Outer Gates you get paperclips everywhere, or [if you're lucky] elephants slowly starving to death when they loose their last teeth.
I'm not sure how aligned my own thoughts on Fair Folk are with Cy's, but to me it feels like a Fair Folk ritual is more about the Inner Gates, while a Cthulhu/Azathoth ritual is more about the Outer Gates.
ᐧ