Black gives atari with . This captures three stones. If white tries to save them with , black continues with . cannot be played at 6 because of shortage of liberties (it is auto-atari). If is played here, the white group gets cut off and has only one eye after .
I think that in this specific position, is worse than playing at 3. The reason is that black can sacrifice a stone at , and that way either end up in sente as he does here, or have the possibility to capture the two marked stones later. Note that after , white is in shortage of liberties again - she cannot give atari to and from either direction.
If Black cuts first, then White's shape is much better than in the previous diagram.
But, as shown above, black does not have to play , so he ends in sente. So probably this sequence is better for black after all, ending in sente.