Well. I don't know that it's the best option. But it IS an option. Personally, I use it as a mix up now and again. But i usually have a set up where I throw the bomb in the air while on the ledge, then as the bomb is coming down I let go of the ledge and AGT the bomb in the direction I want to try and regain some stage positioning. It's not the best trick, but it at least forces them to either grab the bomb, or block it. From there It buys me time to get some positioning. Link's wavedash is pretty bad and his ledge dash isn't all to great either. But I've found ledge hop nair to be useful. At least to assert some space. Don't drift forward while using it though, if you don't space correctly you'll just get shield grabbed. Try to think of AGTing from the ledge as an option for a potential mix up, rather than a method of attack. Unless you already have the bomb in hand, it's usually not a good idea to pull a bomb while so close to the ledge if you jump up to do so and then drift back. I also think ledge hop Fair is great if spaced correctly. I catch people off gaurd with get up attack past 100% also.
In conclusion. It's a viable option. But morely as a mix up imo. Of course this also depends if a bomb is already in hand or not.