It's a very yolo-esque move when going air-to-air, and most of the time, it will lose badly to other (far better) air attacks.
Airdash happy characters like Tao or Bang may accidently run into it occasionally, but the damage usually is not worth the risk. Going for regular j.C is usually better on the offensive. Faster, comboable, range still shorter than a pixel.
Hate to say it, but j.C is probably our best air attack. Air jabs are more for interrupting than anything else. And j.B feels more like a situational move, like all our other moves.