You guys seem to have better luck with it than I am. Enemies still target me when I'm in the ink. Maybe it adds to the hide check but doesn't fully negate it and I'm just getting lousy rolls or something. I first tried using it in the owlbear fight after my party was all downed by it and it just jumped on over to me and clobbered me.
Be careful around enemies that dont rely only on sight for their senses. Many animals get advantage on perception checks using their noses.
Owlbear:
Keen Sight and Smell. The owlbear has advantage on Wisdom (Perception) checks that rely on sight or smell.