If by "dropshipping" you mean finding a way to generate qualified traffic in order to sell a product you do not own with a margin, then, of course it works because it's a basic way of conducting business, one that existed already before the internet.
If by "dropshipping" you mean setting up a shopify store with some junk you've found trending on alibaba's frontpage or that you saw in a video called " TOP 10 PRODUCTS THAT SELLS IN 2021 [DROPSHIPPING]", and then setting up a bunch of 5 € facebook ads campaigns to display your boutique to the masses in the hope that you'll make a profit, no, it doesn't work.
What works though is to create lifestyle youtube videos and IG with rented Lambos, rented houses, and rented models and then sell a course where you'll teach people how to become rich with the formula exposed above for only $ 5999 $ 997.