That's pretty cool, probably the best way to abuse the snap vulnerability, because we don't exactly have many lingering hitboxes. The only issue I have with it is its consistency, if the opponent sees it coming they can often alter their timing which makes it harder to punish 'em.
I much prefer the thing Nairo does where he runs off and instantly sideBs the ledge, pulls up, and forces a ledge trump if the opponent doesn't immediately pick an option. I discovered that if they do, you can (instead of pulling up after sideBing) cancel with a downB and hit their roll or normal getup (attack) with it. Alternatively if you predict jump, you can just down to cancel the tether and jump and punish it, hell, even going for the downB on the stage puts you in a good position at that point, so reading the jump isn't even necessary. Pretty strong mixup against people who are on the ledge and I love the pressure/pacing it sets.
On another note, have people started using Zair from the ledge? between that and upB reaching like 5 miles into the stage we have a pretty easy time getting off the ledge.