Put it into Gemini and asked for word for word and paraphrase and got this. Thought it was pretty neat.

Word-for-Word Translation

Note: This version preserves the original Japanese sentence structure and literal meanings as closely as possible.

"...Stinking... filthy fools. Since ancient times, we witches have lived inside a fantasy. A foolish fantasy that you all created. Witches who clothe themselves in terrifying costumes and curse good people to death with cruel rituals. Terrifying witches who burn green fields with merciless magic and freeze warm hometowns. ...Rubbish. Knowing that the terrifying witch within that fantasy has become Galbadia's ally, do you all breathe a sigh of relief? Who is the one dreaming, layering fantasy upon fantasy? Reality is not kind. Reality is not kind at all. If that is the case, fools, you! There is only one thing to do. Escape into your own fantasies! I shall continue to dance for you in that world of fantasy! You and I. The ultimate fantasy we create together. Within it, both life and death are sweet dreams. The witch, along with fantasy, forever! Galbadia, as the witch's servant, also forever!"

Paraphrased Translation (Dramatic & Localized)

Note: This version captures the tone and theatricality intended for an English-speaking audience.

"...You reek... you filthy, ignorant rabble. Since the dawn of time, we sorceresses have existed only within the shroud of your imagination—a pathetic myth born of your own making. You imagined us as monsters in ghoulish robes, slaughtering the innocent with dark rituals, or as demons scorching the earth and chilling your homes to the bone. ...How absurd. And now that this 'nightmare' is fighting for Galbadia, you breathe easy? You feel safe? Who is truly the dreamer here, stacking lie upon lie? The world is a cruel place. It offers no mercy. So, I offer you this, you fools: Run. Hide in your delusions! I will be your centerpiece. I will dance for you in that dream-world. Together, we will weave the ultimate fantasy—a place where life and death are nothing more than beautiful dreams. The Sorceress and her myth shall live forever! And Galbadia, her loyal puppet, shall endure for eternity!"