Most brands that use azdel only use it for the substrate layer directly behind the fiberglass on the sidewalls. Not the inner substrate layer nor the floor, roof, or front or rear walls.
Although the azdel is water resistant, the adhesive used to bond the whole mess together is low voc water based thanks to the EPA so the laminated assembly can still delaminate. The fiberglass can delaminate from the azdel or the azdel can delaminate from the foam core.
Its certainly a better material than Luan but its not anything to really get excited about. Maybe if they replaced every piece of luan or other plywood in the entire trailer with it but I know of no one who uses it everywhere. Marketing shell game.