Personally speaking, I keep a very wide margin between my love of this kind of thing in a fictional sense and real life.
The very thing that enables me to go as far as obsessing and fantasizing over this kind of thing so much, and the very thing that keeps me from feeling bad about liking it, and what allows me to let loose and not have to question any of the ethics of my fetish, is the line I draw in the stand about the admittedly perverted nature of it all, that I absolutely won't nor wouldn't cross for real.
A part of this is because I tend to have a very specific thing for ecchi, and fanservice in many forms, and I easily admit to objectifying fictional characters without a second thought, even despite their depicted age, which makes no difference to me at all as long as they're fictional and cute. That kind of thing necessitates that I kinda keep those thoughts right where they should stay.
But on the plus side, that means I don't have to feel ashamed about any of it at all, as long as I know I have that moral center drawing the line between fantasy and reality. It gives me a full-on ticket to fap to whatever I damn well please without shame. :P
But.... that being said... I can't say that the "what-if" question doesn't tempt me, even IF I have very strong convictions about it, morally.
IF this kind of thing was possible, (and I can't state strongly enough that I don't necessarily believe it's possible without really unsettling implications).....
...I don't think i'd use it to have sex or dominate any sex slaves, but I actually kind of do like the idea of using it to get together with some people I like, hypnotize all of us (including myself) into an endorphin-rushing aroused state of shedded inhibitions, strip down either to our underwear or even naked together, and proceed to be compelled to fondle, hug, touch, rub, suck-off, caress and masturbate each other for a few hours of bliss until it wears off and we can take a nap together with no lasting awkwardness or shame after we wake up.
Still with my strict "no acting on inappropriate urges in real life" policy I have for myself, I probably wouldn't do that, but.... It's one heck of a wonderful idea or concept, I have to say.
It's an attractive idea, to be sure, but i'd still have to decline actually doing it.