Okay, I've been following these forums for awhile. Ya know, long time listener, first time caller thing and Buzz, Zauron is right.
Buzz, you are thinking that the fact that we can still dodge in air means we can still waveland, which means we can still wavedash. Well you are right up until the wave dash part.
You can still technically waveland, if you have proper momentum, however, you cannot adjust the direction in which you will move from the waveland.
Wavedash is a shorthop combined with a down right or down left airdodge. With the new system, being one based on momentum and not on stick press, if you short hop and airdoge as soon as you get off the ground, you will continue to move up.
Without being able to influnace the direction you airdodge, a wavedash can only be preformed on the down arc of the short hop, which considering the time, if you choose to fastfall, will cause you to do a waveland straight down losing all forward momentum which makes it esstinally useless.