I've been playing with the Technicolor profile since the day it came out, the results are MUCH better. Even if you were to set up a picture profile with the "NEUTRAL" setting with sharpness at 0, and Contrast/Saturation at -4 it still wouldn't be half as neutral as the Cinestyle profile. More or less it saves some of the detail in darker areas, it's not so contrasty/saturated.
Prior to this profile, DSLR footage didn't respond well when adding color effects. It would either be oversaturated or much too contrasty.
When you first see the footage, you may be turned off, as it doesn't look as good as it normally does. That's because they are giving you the "ideal" starting point for color-grading. After you ingest the footage and apply the color curve they give you (.LUT file) it really makes the footage look AWESOME.
Must have if you're going to be shooting any video.