I can see it being useful for some characters, but the input's a little tough, so I can also see quite a few people flubbing it at first and getting a followup they don't want.
I think people give wavedashing a little (just a little) too much credit because there are frames in which you can't act, but I won't deny that it had a large impact on Melee whereas this tech doesn't seem to have nearly as great of an effect, albeit neat and cool to have.
Characters with quicker rolls will still probably benefit more from making reads where they can use their roll as opposed to risking missing the input for perfect pivot.
I do hope we find more stuff like this, though; messing around between stocks has always been one of the most fun parts of matches, so even if I can't really use it, I can still have something fun to do.