Is it possible to believe (incorrectly) that one is on the path?

Can one work one's way through the whole path as it is described in the Mahayana literature, and then realize: Even though you were being sincere, and the "right" experiences in the literature describe your work, you were actually not on the Buddhist path at all, but merely on an intellectual path without genuine actualization; without "direct seeing". Can this nevertheless be preparation for the true Mahayana path?