We used plain ol bluetooth for this 20 or so years ago. I haven't used AirDrop but assume it's got better UX, but otherwise, what makes it special?
1. local IP network, if available
2. ad hoc WiFi, if possible
3. the Bluetooth connection
4. fallback via Apple's servers (newest iOS only)
It's primary advantage is its ability to negotiate over a number of different interfaces and protocols, as needed.
AirDrop is fast (actual transfer happens over WiFi) and easy - makes it so you don’t need to know anything about Bluetooth to use it. It’s a challenge to find an alternative app with the same level of functionality.