Yes, this kind of "localization" is in principle bad, because it prevents the new target audience from getting to learn more about the other culture and tries to force the cultural nuances of the product into a mold that's familiar and easy to take in for said audience so that it's easier to sell. This leads to contradictions- the localisation of Gyakuten Saiban, "Phoenix Wright", takes place in America instead of Japan, and they change a bunch of names and characters who were overseas in America were instead overseas in Germany and so on... nonetheless, there are two cases in the series which revolve around japanese costumed action heroes (I don't even know what the right term is, because the localisation didn't tell me), which have nothing to do with american culture... The worst part is that the american localisation was retained for the european edition, so if you play the game in German, you're playing a translation of a localisation- the worst is when one of the characters says "Verstehen Sie kein Englisch?"
While I enjoy some accents, for example Poshuls (Poshul is a dumb, fat, pink dog, therefore a ridiculous lisp is fitting and contributes to his comical effectiveness), the idea of a french accent doesn't really make too much sense. Any accents that refer to different nations in our society aren't really logical because these nations don't exist in the world of Chrono. Therefore, it would be more interesting when within the original japanese version and within each translation, more original/unique accents would be present for people from other regions/lands- a Porre accent for example. Perhaps the Porres have another language altogether but speak the language of the inhabitants of El Nido (Japanese, English, French, etc.) with an accent, not a french, german, or italian accent, rather with a porrian accent.
On the other hand, I will admit that French is a snotty, arrogant sounding language and understand why they used the accent for Pierre...