The fruitless fights and battles among biological psychiatry, social psychiatry and antipsychiatry represented obstacles on the road towards development in psychiatry. Psychiatry came into existence as part of medicine, although its best practices often looked over the fence of natural sciences and embraced various approaches and viewpoints from both human sciences and existentialist philosophy. In our review paper, we analyse the philosophy of sciences background of psychiatry and the latest trends such as critical psychiatry and postpsychiatry. Then, under a critical psychiatry angle, we touch on some callenges psychiatry is compelled to face today, namely:(1) limits of the validity of diagnostics and of the research of evidence-based practices; (2) the various drawbacks of the state of being a psychiatric patient; (3) the intertwining of psychiatry and marketing interests; (4) the professional challenges linked to the therapeutic effectiveness of certain illegal drugs. Finally, we will display the benefits of the postmodern approach and postpsychiatry which stem from the various viewpoints and approaches and provide positive and practical answers to challenges in psychiatry. All this together offers us, professionals, new vistas for development and changes. Similarly, postpsychiatry offers a solid theoretical basis to a number of existing good practices.