That's a good question - here's the original, pre-conversion version from the 2E Playtest:



So, the answer would appear to be both - I believe it's meant to be a play on the tropes of a water-dwelling creature that's good at luring people to their deaths, or at the very least, fatally distracting them. I tried to stay true to the original design with most of these conversions, though avoiding rehashing the same thing 30 different ways took priority (and that still happened, occasionally....