I don't understand the use of Magic Coat?

Question

It says here that Until the end of the turn, the user is unaffected by certain non-damaging moves directed at it and will instead use such moves against the original user. This move has a priority of +4. Spikes, Stealth Rock, and Toxic Spikes can only be reflected once per side, by the leftmost Pokemon under this or the ability Magic Bounce's effect. If the user has the ability Soundproof, this move's effect happens before a sound-based move can be nullified. The abilities Lightningrod and Storm Drain redirect their respective moves before this move takes effect. For the turn in which Magic Coat is used, the following moves will not affect the user, but rather, will be bounced back at their user

I don't really get it, does it mean that the Pokemon has the effect of magic bounce for one round?

Answer 1

Yes.
Its a bit like the ability Magic Bounce but is a move and only lasts for one turn.
It can actually be used successfully with Pokemon like Espeon, whom I have used .

Answer 2

does it mean that the Pokemon has the effect of magic bounce for one round?

YES

Answer 3

Yes it means you get Magic Bounce for one turn.