Anything that forces the enemy to waste resources away from the hoard to feel compelled to check out the blinking base IS a strategy to make a side waste resources that could be better used elsewhere.
Prime military example:
Ike & Beedle Smith formed up an entire fake army--allegedly under Patton, from Ramsgate to Hastings with dummy landing craft, fake radio traffic, etc...in our game, Pas de Calais was "blinking". Hitler and the German General Staff were convinced the attack would be at Pas de Calais and dedicated (wasted) a lot of resources there as a result. This hurt them in Normandy after D-Day when Hitler refused to relocate the resources until it was too late. Forcing a side to waste resources helps your side.
On many occasions General Lee would send Jeb Stewart's cavalry in a feignt in on one part of the front--forcing Union Forces to waste resources to investigate--taking vital resources away from another part of the front--and Lee would attack that weak part of the front.
No different in our game and JunkyII did an excellent job at it--forcing NME resources to waste guys chasing him and breaking away from the attacking hoard.
Go in with a gv and make a base blink and the enemy has no clue if it's one guy in an M8 or 30 guys in a gv mission...feeling compelled to up (waste) resources to investigate when they would most likely still be in the hoard.
This has nothing in-game with "winning the war", I haven't seen a side win a big map in over a year.
It has everything to do with duping the enemy into wasting resources.