Personally I find it very liberating, but then it's not used in a way that takes away from me. For me it is almost that I assume a different role, I gain a sexy persona I wouldn't normally dare to explore and therefore I am free to enjoy it. When talked about in the third person, or if I describe myself in the third person it gives distance which allows me to be much more free. Probably not very healthy for the mind to be fragmented in that way, but it works for me.
But I can equally see it could be used as a punishment to strip you of identity.
Love xx