Is it just me or does Federer have the greatest drop shot in the game at the moment?
No, it's not just you. Djokovic does it also very well, but Fed is displaying really good ones lately.
Dropshot has a tactical aspect similar to the net attack. Usually, the point ends very soon. By this, it helps to avoid rallies, it keeps the opponent alerted and unconmfortable and it helps well to break rhythm.