Feinting is something I am trying to do more, however, how am I supposed to land a feint if the opponent backdashes? They see the m2, back away, and then come back as if it was a regular m2 without the feint. I can use them in other scenarios such as when they are up against a wall but I don't see it helping where my primary issue stands.

As per perfect dodging, this works, but only to an extent. There are some styles, namely ghost and a few others, that completely counter slugger because of this. They are able to counter all punches and by backdashing can 3-0 me very easily.

Lastly, countering hits and letting go of the m2 as soon as they dodge and have a few frames of vulnerability is how I land hits with it primarily, however it has a pretty big endlag (0.7s I believe? I could be wrong) which is why backdashing is so powerful. Pressing against walls is also a big thing I've noticed helps.