Spawn in at the beginning of the game on BTB Slayer on Exile, killed by a Gauss Hog in ten seconds. Spawn again, and the Gauss Hog kills me immediately. C'mon.
I think it's a fun technique and don't view it as a cheat because everyone can do it and it actually makes sense to input momentum into the throws. It's easy input wise, but the only thing that does classify it as cheating a bit is that not everyone (the host) can do it. If the host thing didn't apply I'd consider it more like wavedashing or something in SSBM, a fun unintended thing that adds to the gameplay.
It's a button combo, no different than BXR or the Boltshot reload glitch. It was not intended by the designers, it is not known to a majority of the population, it gives those who use it an unfair advantage over others. It's the very definition of a cheat.
Of course, none of this would've been a problem if 343 had pulled their heads out of their asses and had a beta, but that's behind us now and hopefully they had the foresight to at the very least include a framework that lets them patch out exploits like this.