I (Filippo) have seen these alerts fire reasonably frequently (both in -operations and -traffic), but hardly ever be actionable in an meaningful way (except maybe look at dashboards). They also fire during high traffic incidents, obviously after the peak has passed and there's now a "drop" in traffic. For these reasons I think we should re-evaluate the alerts and see if they are still effective, useful, wanted, etc.
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I know that I ignore them. Perhaps rather than removing them entirely, we could tweak the detection to be a little smarter with detecting serious drops (i.e. falling off a cliff rather than just dipping suddenly).
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I'm boldly resolving the task since AFAIK the traffic drop alerts have been removed, see also discussion at https://gerrit.wikimedia.org/r/c/operations/alerts/+/900626