The author uses this as a method to clear or undo this variable. By setting Value to an empty string, it deletes any previous value. An author could just as easily set it to 0, vbNull or vbEmpty. It really depends on what you do with the value later in the script. If you continue to perform additional checks on the variable, setting it to vbNull may not be practical and setting it to vbEmpty may cause your script to crash if you use Option Explicit.
So, to answer your question, no, this is an invalid way to check the value "null", because it is not a comparison operation at all, it performs the assignment of a variable.
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