Like I said, with some variety to distinguish it from the formula drop shot it can be a good hole, playing one down to the sea would qualify.
If they truly want to call it testing one's club selection and shotmaking where yardages are less helpful, let's see more of them allow a generous area in front to play a lower shot and run the ball on the green, instead of fronting it with water, sand or gunk as is all too often the case? A course in town here has a very steep drop shot par 3 that allows a run up, but will kick the ball off to the side if you miss the area by too much so it isn't a makeup area for a poorly played shot) It has water behind the green so players who do not make use of the ability to run the ball onto the green do so at their peril when there is a strong following wind!
If architects were really serious about testing club selection through elevation change we might see more steeply uphill par 3s, but the courses that overuse the drop shot par 3 generally play as many shots as possible downhill, and choose their routing carefully so that almost all green to tee transitions go uphill. I'd almost say that having the large majority of your green to tee transitions going steeply uphill is almost a guaranteed mark of a crappy course, because it is clear that the desire to have as many downhill shots as possible was the main criteria for routing, instead of finding the best or most interesting holes.