236A is +5 on hit. Technically, you can link a 2A after it if you hit the frame of justice. Otherwise it's just significant frame advantage. Fun fact: This move is still -1 when air-blocked (!!) and -7 when bunker canceled (!!! -- this is if they cancel the last hit).
One of the nice things about using 236A in blockstrings is that you can choose your spacing off of the move. You can either go point-blank (where 5B will randomly clash people out of pokes for massive damage) or 2A (which will beat any non-A normal). Both options will also hit people out of their jump (in the air) if the timing is tight enough.
You can also space yourself out around max range for the move, which puts you in the sweet spot for 2B -- if they try to counter-poke you, they pretty much lose as anything will either miss the hittable portion of 2B or get beat outright. However, from this range jumping tends to be fairly effective against it as you are still -1 and you aren't close enough to really guard break with anything. However, if you know they are going to jump then you can try to air throw, dash in 5A, 236A again, 623B, whatever -- meta-game as appropriate.
Don't rely on this against some characters, though. It will miss Len, Arcueid, Hisui, Mech-Hisui, and Ciel if they are crouching outright (Ciel can even go under it with her dash, ugh). Also be very wary about using it against Satsuki, as she will just mash on 2A or 2C and make you sad (since her 2A and 2C are way faster than normal). Take caution against Akiha, V.Akiha, and Shiki as their 2Cs have both the range and the speed to beat you out of a max-range 2B after this move. However, abuse the shit out of this move against Nero as his As are slower than everyone else's and can not counter-poke Nanaya out of his 2A.