I was under the assumption that you needed the conversion of psilocybin to psilocin to get anything out of it. I know psilocybin is water soluable, and doesn't degrade too badly in high temperatures (at least, not in a dehydrator), but I don't think it would convert as readily if vaped, if at all.
AFAIK, psylocibin converts into psilocin in your liver, so it doesn't matter how you get it in, it will get converted and activated.
Don't see why anyone would want to inhale a fungus?
Why not? What's wrong with that? You can vape any material as long as it's vapeable. But I've just seen many mixed messages on wheter that's actually possible. I think a free-base psilocin can be possibly vaped if you are careful not burn it, I think I'Ve seen some reports of people tripping like that.
If it ain't broke, don't fix it. Eat those shrooms just like Mother Nature intended.
I see many valid reasons. Theoretically if you succeeded inhaling psilocin, you should get a very quick DMT-like comeup (a comeup is usually uncomfortable and weird, so it can be desireable to get it over with quickly), and few hours of effects (longer than DMT, shorter than shrooms), also you would not have to eat them, which can easily upset the stomach which can mess up the trip.