If updown was a special named dimension and you took a single 2-space+1-time slice of the universe at fixed radius from the Earth, your argument wouldn’t really be different, only words and phrases like “sitting still”, which is inherently about the dimension being removed, because it’s convenient for us.
And that’s ignoring questions like “can particles have momentum if there is no time?” which might actually be important in the unlikely event that I understand what a black hole’s singularly does to time.