Well since characters have a double jump, I never thought anyone would be bothered that much by another velocity change for a airdodge. Wavedashing has opened up an entirely new defense for me, which I have been victim too as well. This leads to having multiple approaches and allows mindgames to come into play more. Offensively, wavedashing has changed eveything for me too. Waveshining, wavelanding, and grabbing the ledge off of a waveland are all amazing techniques I have only began to use recently.
I would like to point out this article (I haven't sifted through the 500 pages of this thread, sorry if it's a repost) playing to win.
Considering all of the characters (although it is more useful for some) can wavedash and any player can do it, I see no problem with it.
edit: did i say 500? i meant 807 pages.