The traps do attract JBs by the thousands. I can't count how many hundreds of pounds of JBs I've trapped out here, but I can say with certainty that after three years of keeping ten or so traps out, the past two summers have been virtually beetle-free.
I suppose it's possible that JB numbers are cyclical, but so far, for my place at least, trapping them has been effective.
If they begin to show up again, I'll put traps out again, and now that my pond is full and stocked with fish, I'll place the traps where the bugs will fall into the water. That will relieve me of dealing with the stinking mess of full traps, and provide free groceries for the fish.
Someone designed an over water trap:
https://www.youtube.com/watch?v=DAWTn8_ejqI
Other peoples examples of large scale Japanese beetle traps

and

Hope I don't have them that bad this year!