Nice construct for mental play consideration.
That build looks as though it has lots of potential applications, but dry dropper doesn't seem to be among the top.
The mono loop tail for dry was used commonly when dries became more and more widely used as "indicators". It made casting feel easier with the indicator being inline.
The Royal Wulff was common for being an indicator, pre-white and orange tops, etc.
However, your image and question feels good at this time for giving it attention and for providing some recreational, mind-flowing stimulation for potential fly construction considerations.
It's better than news.
(For example:
-Maybe the ring/loop could be holding the eye of another hook. Put the point into the eye of the other hook and slide it down and snap it through.
And the length of shank could be used for additional weight and the whole thing be used for making some kind of front section.
Maybe sticking the point on some cork ball?
Maybe the loop could be a way to insert a "stick" of floating material to look like spinner wings?
And then tie a dropper to the same loop? Nah. That would probably better with mono.)
As far as being an actual "hook" design, it doesn't seem to fare well.
For example, the downward pressure onto the point will move the point away from the shaft. If that were to happen the point slips out of the fish.
The pinch in the shaft at the top of the loop does seem to provide a block and might keep the top of the curl from sliding, but it's not the best physics for being a hook.
Otherwise, it does somewhat resemble the build of a single hook clip and also the clip on a swivel.
But thanks for the thoughts!