[Buckmulligan]

I see some value in raising here but more value in folding. To raise, I would need a pretty nice read on the bettor, I would need to know that he would either fold a piece of the board, or would bet wildly with a hand that I beat. Furthermore, I would need to be pretty sure that the rest of the field is tight enough to fold to 2 cold. This is a lot of information that is hard to come by.

I think people like the raise here because it isolates the bettor. Keep in mind that this will only be useful if the bettor is betting a weaker hand. Otherwise, you are spewing heads up rather than multiway, and there really isn't much of a difference.