It's POSSIBLE to do it, but I agree it's situational. It just feels like one of those things that you have to know it's an option, and if you play the game enough, you can think "hey, that's a pretty cool option." But it's really situational since, like in the Wombo Combo, you need to hit them with the top of the shine in front of you a bit, DI a certain way, and then you have to hit them. Nowhere close to optimal for shield pressure (though it could work as a hard-read for a shieldgrab AFTER the shine but even then you'd have to hope they do it slower than frame-perfect), and hitting with a shine on the ground is probably better to waveshine instead and u-smash or JC u-smash as necessary.