Little to no drop can be really great. It may not be super awesome for aerodynamics and in my experience power can suffer on climbs, but it's not a bad setup for someone who just wants to spend a lot of time in the saddle.
My bikes have very little saddle-to-bar drop.
In fact, if you look at the photo, it looks like it's setup with a more conventional fit ("fistful of post") and it's fairly common for that.