I've run this dungeon several times now with a wide variety of people, and as far as I can tell the only way to wipe is if all four players get Fetters during the same trial. I've had multiple runs where all three of my fellow party members will be caught in Fetters, but it just progresses normally since I'm still free and able to continue doing the mechanics. If you're wiping to it, sounds like you need to learn how to not stand in stuff, especially when said stuff takes years to actually go off. Seriously, this fight's mechanics are slow.

I've actually yet to see a wipe to it, in fact. Would definitely appreciate someone linking a video showing a wipe, as I would love to know what happens if it happens.