emergency exit/wimp out isn't inherently bad, it's just not a good ability for the only two pokemon that get it.
golisopod's speed is pretty sucky at 40 and any decent SE move will immediately force it to switch out, and so if you use anything other than first impression you'll lose your action that turn. and bug isn't a great offensive type tbh.
on wimpod, he is fast, but he is too weak to do any damage before switching out. not to mention it makes him impossible to train against wilds...
edit: in the same vein as rotom, stunfisk gets limber, which is triple useless.