Drop shipping is certainly a great way to start selling online, particularly if you don't have the initial outlay required to invest in keeping all of your own stock.
There are lots of successful business models and businesses out there that are based solely on using drop shipping suppliers. Fishpond.com.au is one very large online retailer making huge profits, using solely drop shipping suppliers.
As long as you don't start your ecommerce business with unrealistic expectations eg: expecting to make your fortune overnight. Drop shipping can be very lucrative, and does have huge advantages, but you still need to be prepared to put in the work to grow and develop your business and your website.
It's the people that are prepared to put in the effort when starting their online business, that will reap the rewards.