At 29 frames I can guarantee you that is getting blocked almost every time. It's almost like Kasumi's 66H+K. You might be able to surprise someone with it though.
I guess it's if the player in question can always counter it on reactuon instead of just blocking it. If they can, it's online BS. If they only block, it's legit. Issue is, I can also cancel on a counter and be between -3 and +6 based on how fastt hey react, so they're better off just blocking.