I feel like Tasha's hideous laughter shouldn't be made into a wand. Its duration is absurd compared to other mind spell wands. I feel like the price of this wand should be increased or it shouldn't be wandable.
Part of the reason its so effective is if you're using it against another of your same race, otherwise its not nearly as effective, hence why its a weapon of choice in the human dominated peerage. I think as the spell is, it is fine, myself.
A 3 round prone with dc 16 against same race, DC 11 against any other race.
Drink a clarity.
It is powerful only against your race. A half-elf or half-orc, for example, will laugh it off. An elf. A gnome. Anything that isn't human.
As far as I know, though, I am the only one who has made significant use of this underrated spell.