I bought a 2007 Prius a couple of months ago, and it has performed flawlessly, right through our recent cold and snow blitz. So what is this supposed problem with the traction control?

I have had two different people in the last week (both former Prius owners) tell me "you'd better be careful, you're driving a death trap on slippery roads." They then told me how the car 'loses power' and doesn't accelerate properly on snowy roads. I have now driven three cars with traction control (the others were a Chevy Impala and a Hyundai) - ALL of them accelerated more slowly when the traction control is activated. Unless I'm seriously mistaken that is what traction control is supposed to do, to prevent the wheels from spinning on slippery surfaces and protect the transaxle from damage from over-revving. I've driven manual-transmission cars most of my life and started up on icy roads in 2nd gear to achieve the same thing - worked flawlessly but also has the feeling of 'losing power'.

So is there really an issue with the Prius's traction control, or is this just a bunch of people who don't understand what it's supposed to do (as I personally suspect)?