I tend to lean towards the idea that conscious is akin to a field in the sense of an electron field - that what we can measure are simply “excitations” of a more subtle field. Not a perfect metaphor, but it’s the closest thing to what matches my meditative experiences. IMO, it’s illogical for me to let another subjective being define what my substrate is, so I primarily rely on meditation and then supplement with objective observations.

All in all it really depends on what you define as consciousness. The issue that I have with most “objective” interpretations of consciousness is that we can only measure the excitations of this mysterious “life” thing is. If there is more to us than can be measured, e.g, that there are first person experiences that can be felt subjectively but not measured objectively, then any objective measure of consciousness will likely be limited. Consciousness seems from my pov to be the Achilles heal of the axiomatic assumptions of our scientific paradigm (at least in the west)

In response to your question, it depends on your definition of consciousness. Is neural activity the source of consciousness, or is neural activity the result of consciousness? How can we know for sure which?