I tested it extensively with 20% attack speed + C2 and these are my early conclusions before reviewing the footage:

If used sparingly to animation cancel N3: It's DPS neutral at best or negligible DPS loss.
If used improperly and interferes with NA spam: DPS loss.

If used EVERY time it comes up: At best it's a slight DPS loss if you're at least animation cancelling and at worse, you're losing 50%+ of your damage.

Wanderer's A4 passive is not a DPS tool. It's utility for dodging and the damage it gives you helps make up some of the dps loss from dodging. It's also useful for chasing an enemy that's far out of your range since it doesn't drain stamina and gives some damage to finish off a low health target that got knocked out of your range.