I don't think drops are, or have to be, inherently terrifying things.
The fact that young children are going to be riding an attraction should not inherently mean that any sense of conflict, stress, fear, perceived obstacles, etc. must be edited out.
Walt and his designers (and people of older generations) assumed that most people were resilient and could handle some scary stuff; by contrast, now many people have decided that children are inherently fragile and can't handle much of anything.
The truth is somewhere in the middle, and in trying to satisfy everyone, it is only inevitable that no one will be satisfied.
Obviously slapping the Coco branding on a clone of VelociCoaster would be massively inappropriate, but I think the notion that throwing a drop on a Coco ride, especially if necessitated by story and/or spatial concerns, is inherently traumatizing or inherently makes something not-family friendly is a little far-fetched.
Is Pirates suddenly not family friendly because it has two drops on it? The fact that a few people (or, under the most generous possible interpretation, some) cannot handle the drops does not negate the fact that most people seem to handle them just fine.