The dash is one of your most important tools, to the point that it may be borderline broken. First of all, your turn rate depends on your speed, and thus dash allows you to do extremely sharp turns. More importantly, however, it has i-frames on it, shown by force-field effect - you don't need to shake off torpedoes and missiles, you can just plow right through them if you time your dash correctly. And while enemy homing projectiles do have infinite fuel, their guidance system runs out of juice after 10 seconds and they stop tracking you.
I'm going to rebalance player torpedoes in the next update, albeit I'm not sure how. Either a bigger splash damage, or maybe launching two or three torpedoes at once.