Will the Glow Squid Hypnotize?

Glow squids can hypnotize axolotls and guardians to defend themselves. ... The glow squid will then swim away before the guardian or axolotl awakes from its trance.

Will the glow squid do anything?

If you attain a glow ink sac, you can light up the night! ... With a glow ink sac, a user can craft a glow item frame. A glow item frame can “allow any item or map placed within to be well-lit in even the darkest of situations,” said Scheviak.

Is the glow squid useless?

They're a very rare sight to see, as they only have a 5% chance of spawning within a new group of glow squids. Killing them is useless since, like most baby mobs, they won't actually drop any resources apart from a few measly experience points.