"…however, you will never lose your turn from the status effect if you're completely entranced, with the exception of some monster's hypnotic attacks."
It only seems as bad because the most obvious effect - the count down starting at 5 - is still the same.
Other than that, the effect is completely reversed, raising your trance resistance rather than lowering it, and actually completely negating most Trance effects - you still get the count down, but most Trance effects just won't cause you to lose turns any more even when you hit 0.
You still get a bunch of fetishes, but eh.