What you want is views' right column.
You need to use a contextual filter of
Content: nid, choose to provide a default value
Content id from url. If you want to suppress the current product (eg. for a related products display use the
Exclude option in the
More fieldset at the bottom.)
Then add a relationship and select your entity reference field.
Finally you can add the field
Content: rendered node and at the top choose your newly created relationship. This should give you a list of referenced products.
Update: I guess the exclude option takes no effect in this case, since you'll be only listing the referenced products.