Almost right, taking enough Ketamine will put you into "The K Hole" where you actually "disconnect" your central nervous system from your sensory inputs and your brain (as it tends to do) fills in the gaps. Quite mind-expanding/scary stuff by all accounts.
I took ketamine when I thought I was taking ecstacy once in the mid 90's .. I wouldn't recommend it, you just sit there in anxiety land which was doubly disappointing for me that night because I'd finally convinced an old friend who was into house music to try a hardcore rave for the first time. He had an amazing night.I've never taken Ketamine, but I assume that the effect you are describing is what is being referred to when Ketamine is labelled a 'dissociative'.