One of the downsides of the Cobra guard is that if the guy stands to pass and starts running around, I'm in trouble if I don't catch him with either the armdrag or the hook.
This guard pass defense move is one alternative for when I'm late. The key is that the guy's head needs to be down. He has to be about to put his weight on you. I suspect that if the guy comes in with very upright posture, as if he is going to go just for the knee on belly, this guard pass defense might not be as effective.