Sounds a bit like Amway.
On the comparison between Mormonism and Hinduism, I have fewer problems understanding how people can believe in the latter as opposed to the former. Hinduism is a very ancient religion, probably the oldest surviving faith on Earth, its adherents are born into it, and those followers can at least point to several thousand years of tradition to support why they believe. According to a Hindu friend of mine they do actually believe in a single supreme God of which the others are sub-manifestations. While I am not a Hindu myself I have never felt any discomfort in discussing my faith with Hindu friends and acquaintances. Try discussing traditional Christian beliefs in detail with a Mormon, or even risk your throat doing so with Muslim, sometime.
Speaking of which, there are many parallels between the founding history of Mormonism and Islam. A latter day (post-resurrection) prophet is exposed to Christianity and decides that it is a misinterpretation of the "truth". He then (through supposed ecstatic revelation) receives a new revealed word which, to any objective reader, is a mass of contradiction and embarrassingly ignorant made up history. Nonetheless, both prophets attract devoted followers who are willing to kill and die for their new faith. Both condone and practice polygamy and what we would today classify as pedophilia, the treatment of some races of man as sub-human, and require complete submission of the individual to the prophet and his "church".
Not that I have anything against Masons but Mormonism sounds a lot like the Masons when one considers the secret rituals. But of course, the Masonic organization is not considered a religion and maybe neither should Mormonism.