No, he isn't one of the top CEDH commanders. There are two major downsides to this commander. The first is that he does not have black as a color option, which removes the ability to have a lot of the best tutors in the format, and make no mistake, he is a combo commander that would greatly benefit from the consistency of using black tutors. Secondly, his mana cost is prohibitive to the point that you would never really cast him unless you're already going off with a mana engine. In other words, he doesn't generate value throughout the game, nor does he move you closer to putting together your mana engine. Every single one of these weaknesses is completely solved by using the First Sliver instead.
With all those things said, he does have some pluses. The biggest plus to this commander is that he is a combo piece right from the command zone. Secondly, a lot of the combo pieces you're going to be using will be creatures and completely get around cards like Swan Song, Negate, and Force of Negation. They also get around of stax effects like Thorn of Amethyst and Thalia, Guardian of Thraben.
So to give a nice short answer. Maelstrom Wanderer is not a top-tier CEDH commander, but he is definitely viable and playable at a CEDH table.