It functions as an alternative to wavedashing because the dash away (first of all, is faster) creates space and then turning inherently creates more.
not needing to shield would be a bonus, but generating that slight space more rapidly using the dash (as opposed to the wavedash) is a lot more impressive. Of course, people often take into account that you're going to create that space and etc. etc. etc.
I use this a lot to get really tight cross up nairs/bairs. Running behind someone is usually a pretty good way to get them to short hop out with an attack so holding shield can also be an option.
not needing to shield would be a bonus, but generating that slight space more rapidly using the dash (as opposed to the wavedash) is a lot more impressive. Of course, people often take into account that you're going to create that space and etc. etc. etc.
I use this a lot to get really tight cross up nairs/bairs. Running behind someone is usually a pretty good way to get them to short hop out with an attack so holding shield can also be an option.