Most of today's living elves were already alive back then! By human standards, those times were like the 1990s ... which were actually pretty different times when it comes to political correctness, so fair point actually.
If it was made by Ñoldor, which seems likely... yeah, you could say that.
(“Elven cocaine” being mainly Fëanor's hubris, the doom of Mandos, and all that; which admittedly had all the bad parts of actual cocaine, but none of the fun ones).
Galadriel had nothing to do with Gondolin but she was definitely in Beleriand at the time. She was around to experience the light of the trees and make her way to Middle Earth with the Noldor.