I’m not sure if I’m even qualified to answer this question, as the only Tone Bender I’ve ever used is the Tone Reaper side of the Hoof Reaper pedal. I’d say I find it not overly extreme sounding fuzz.
It has a grainy texture to it, but even at max gain I don’t find it to be very raspy or full on square-wave. It is however a great classic rock sound that’s more gritty and grainy than a typical distortion like a Rat or DS-1, but isn’t really a snarling beast of a fuzz.
I do play both bass and guitar… but I’ve never actually used phaser with bass, so I can’t really comment on what would work best it.
When I comes to bass effects, I like filter type effects, but that’s pretty much it.