My wrists would be suffering on any long out of the saddle climb cocked up that much, both on the hoods and in the drops. My preferred setup is with traditional drops, hoods parallel to the ground and a real downward slope to the bars above the hoods. In other words, very old style and to your mind, totally wrong.

Now that brakes run the cables under the tape, I often drape my forearms over the bars, palms over the tops of the hoods. My wrists are as straight as in your photo. This is the most aero position on my bikes and also quite comfortable. (I fantasized about having between my middle and ring fingers surgically cut so I could get that position with the old brake cables. On my long rides as a racer in the '70s, I had lots of time to think! )

OP, I am not suggesting for a minute you should follow my habits. Find what works for you. But I am NOT a fan of "loosey-goosey" when it comes to grip. Crashes cost way too much. Far better to invest a little effort into holding onto those bars. (On a prepped TT course, that loose grip is fine, but on someone's wheel, behind a car or anytime your attention isn't focused on the pavement ahead, no. The crashes we are talking often involve broken bones. Broken bones mean loss of training. The firm grip is a habit you will not regret.)

Ben