Technically, it does add a little bit of depth in that you cant try to mix up your shielding patterns and hope they screw up their L-cancel.If it actually offered depth to some reasonable degree. I would defend it.
But all it is at it's core is a barrier to raise the floor and offer nothing for the skill ceiling.
Remove it, cut lag in half, boom you now have the same game with a much lower skill floor, same skill ceiling and same gameplay.
If it offered depth of choice then something would be there.
But the oh so magical question of,
"Do I want more lag or less lag?"
That in itself is a terrible mechanic.
Edit: let me give you something to read,
However it's so minute and unreliable that it's not worth the chafe of L-cancelling in the first place.
Are people actually arguing in favor of technical walls for the sake of barrier of entry? That really confuses me.