Is Chaos ACTUALLY that bad?

Well okay, I know it is bad. Endless cock and ball torture, murderhobo lifestyles, rotting forever and loving it, paranoia and forbidden knowledge, I know the actual deal with Chaos and that it sucks fucking nuts - but is it really significantly worse than living as what is essentially a slave to the empire and then dying from overwork, xeno monsters, or getting sacrificed to the Throne if you are a Psyker?

I mean fuck, Chaos seems shit compared to life now but I would 100% take any of the Chaos Gods except maybe Slaanesh over daily Imperium life unless I was a noble or something. If the Empire wasn't such a hellhole I imagine the offer of Chaos worship wouldn't be half as appealing