Yes, it is! I've always thought that "Martha" has an Indian sound, because of the sound of the acoustic guitars and especially the strange electric guitar solo. Also the bizarre flute gives the song a nice touch.
Actually I think that the whole After Bathing At Baxter's album is usually misunderstood, but that's not a surprise because it's the most experimental album of an experimental band like Jefferson Airplane.
Nice analysis! The album seemed less bizarre to me as it went on but after the second track anything
would seem normal! I was actually quite surprised to learn that it predated the White Album because that track sure sounds like it was influenced by Revolution 9. I like the way it ends: "No man is an island...he's a peninsula!" I've got to really listen to it again, when I can sit down and give it my full attention.