Yeah though you have to worry if lag will interfere with this. I tried to throw punish a Christie players 66k and guess what happened? I got hit lol. I do go for the throw punishes but usually online it messes up. That why I don't risk doing it too much online.
They're especially good if you're playing a character with an amazing 6t(like mila's) that gives you a set up afterwards. It can really turn the tides in your favor.