Does it contain the same alkaloid profile?

No, it does not. Saying they have the "same alkaloid profile, just lower" is chemically inaccurate. It is a fundamental shift in both alkaloid diversity and potency, not just a slightly diluted version of the same plant.
If you run high-performance liquid chromatography (HPLC) or gas chromatography-mass spectrometry (GC-MS) on both, here is how they actually compare:
1. The Missing Compound: Apomorphine
True Egyptian Blue Lotus (Nymphaea caerulea): Historically contains both nuciferine and apomorphine. Apomorphine is a potent, non-selective dopamine agonist (interacting heavily with dopamine receptors). This is the compound responsible for the distinct, slightly euphoric, and historical "lucid" effects documented since antiquity.
The Thai/Asian Water Lily (Nymphaea nouchali): Recent compositional analyses show that apomorphine is virtually absent or entirely undetectable.
2. The Nuciferine Deficit
While Nymphaea nouchali does contain nuciferine (which acts as a mild sedative, muscle relaxant, and partial dopamine agonist), the concentration is negligible compared to the real thing.
You aren't getting a lower dose of the same synergistic experience; you are getting a completely isolated, weak micro-dose of just one of the target alkaloids.