While ethanol is neurodepressant overall, its effects can initially mirror those of a stimulant ('biphasic').
It's still depressing neurones; the neurones it's depressing are inhibitory neurones, which dis-inhibits excitatory neurones. Your comment prompted me to do a research-check, and it turns out I was completely wrong (don't theorise beyond your nose, eh?). The above comment now reflects reality.
If it's worth saying, but not worth its own post (even in Discussion), then it goes here.