it does and it is by far the most frequent use of it. Main difference with ut99 is speed is kept after dashing so literally everyone uses it as the first jump all the time (it's faster).
It does more things though, like dashing in all directions (less control than ut though), jump on walls (again like ut but with less control), dash on rails, double jump using small ledges, change direction on the floor at fast speeds without losing or gaining speed, bounce on walls to do the same, etc. Now the explanation is way too long and what mattered the most was said on the one liner.