It's not necessary but it exists if you're shaky about their offense or are in a position where you don't need to take a risk. I'll use it if I have a huge life lead and want to close out a round. If someone is low on life, has a lot of meter, and tends to wake up I'll end a combo in front of them and jump back chain shift to see if they reversal, 99% of the time it's a super free punish. Like I said though it's just another option. Also catching an air throw with CS is pretty godly because you can get a beefy ass combo, it's an amazing air to air.
The way I see it, it's not really a waste because you're getting the meter anyway, and you get to retreat to a distance where Wald is very strong while still keeping the pressure on because you can react to what they're doing when you chain shift. It also makes the opponent second guess themselves because you're controlling a lot more of the neutral game. Idk just getting thoughts out. I've edited this like 4 times, I feel like it's a pretty strong option but I understand why it might seem like a waste to some.
Also I was wondering if anyone had a max damage high counter combo for dp punishes. I'm not really sure if any of Wald's moves are changed by high counters but if someone does that would be dope.