Inadequately treated psychosis - that is, psychosis that is allowed to fester for years - is not only disabling but can result in long term consequences. For example, when schizophrenia is not nipped in the bud early on, people do not tend to be able to go on and live relatively normal lives even once the psychosis is under control. Their thinking is forever changed and it's as if there is some sort of cognitive damage that occurs that cannot be reversed. There is actually also such a thing as psychosis-induced PTSD. I think it is very dangerous indeed to risk treating someone suffering from psychosis with psychoanalysis instead of medication. There is also the fact that psychoanalysis isn't even for everybody and I think it actually requires a lot of inner strength. That is not to say that people afflicted with psychosis don't have inner strength, but that they are already carrying a significant mental burden that I think would make psychoanalysis contraindicated. Finally, I would like to point out that outcomes for people with psychosis have improved as medication has replaced other treatments, including psychoanalysis, as the treatment of choice. Yes, anti-psychotics have a lot of drawbacks. They tend to be very sedating and make people fat. However, when psychosis is treated early and adequately with medication, symptoms can be controlled and are not so disabling that they define a person's life.

So yeah, psychosis is really the only mental condition that I unequivocally feel medication is always the best course (at this time). With other things, trying alternative treatments first can sometimes be a waste of time or result in social and occupational losses, but short of the risk of suicide (which can happen medicated, as well), there's not the same kind of irreversible damage that I've seen in people who were either not medicated for a long time when they first got sick, or who have periods when they don't take their medication.