Yes, it should be. I've observed how high the opponent goes when 6C lands (float vs standing), but I can't seem to throw out anything fast enough. Currently, I cannot cancel 6C with anything aside from Chain Shift. While that may be the property of the move, I can't get any of the follow ups to work.
An example would be the 6C fireball chain, 6C > 6C > 236A > 6C, etc. I cannot get the fireball to come out fast enough. Another example would be the 6C > 22B ender string. I cannot get 22B out fast enough connect in a combo, and it barely hits with raw 6C.
Video i'm using as practice reference: https://www.youtube.com/watch?v=GVFaVzwjHkY
1:18 shows the 6C fireball combo.