Strange, I’ve never tried it unless Japan’s navy is sunk or neutralized. It’s never been my target going into a game. I don’t think that the IC would be necessary in Alaska unless you need to buy big expensive ships there. Troops can be built on WUS and marched to WCAN to be shucked to SFE.
I would see it as generally less effective because in order to be able to get troops to those territories, your navy needs to be able to withstand attack from Japan’s navy which at the end of Round 1 probably consists of 2 BB’s, 2 CV’s, 1 DD, 6 fig, 1 bom, 4 transports. And once you do get that kind of a navy together, which takes quite a while unless Japan neglects to build more ships/planes, Japan probably is pretty strong in Buryatia and can kill any invaders.
The upside to shucking to Europe is the relatively little need for capital ships, the greater ability to cooperate with the other Allies, the more valuable territories, most are worth $2-6 as compared to $1-3 in Asia, and the ability to contest Africa.
A better case can be made for Island Hopping because East Indies, Borneo, and Philippines are valuable and make good locations for factories.