If you cast a vocal component spell next to an enemy, you'll often get a gag shoved in your mouth, which has
- a log message, like groping/tickling/spanking
- a cosmetic change to the player's image: there's a gag now
- an immediate gameplay consequence that's hard to overlook: you can't cast that spell anymore!
- further consequences: you have to take time to remove the gag, maybe during combat, maybe desperately
All of this gives bondage a lot of weight and meaning in the game. Bondage feels real because it limits your actions and forces some actions.
Of this list, teasing mostly has #1 and #4, so is much more weakly felt. #4 is sometimes a big deal if you become unable to fight and get jailed due to distraction, and there are some some other interesting effects like 'spending' distraction on a spell.
In a jail situation, an NPC adding bondage is a big deal and avoiding further bondage is a big reason to escape ASAP, but an NPC teasing the player is just flavor and you could 't' through the whole experience if you wanted.
If you lose to Fuuka and get her collar, the ghosts are spawned hostile and tease and slow you and become such a nuisance that I try to immediately kill them before other enemies, or start running away if I can't. The additional effect adds a lot of #3 that's missing from most teasing. Those ghosts are a menace!
I feel like there are some other subtle effects, like teasing make it easier to apply bondage, but it's not emphasized enough that I think about it, and there's no counterplay beyond potions: you can't try to resist a tickle. A run with or without pain resistance doesn't feel at all different to me.
Animations could improve immersion, but I think after you got used to the addition, you'd go back to mostly ignoring teasing without some additional gameplay consequences,