I mean yes...but by "useful" we're talking about like, a 2-link white item dropping in A2 being "useful". Or a 1-mod blue with +4 fire res dropping off an act boss and being a good drop for what you have.
So if that's what you had in mind then you'll be set, but if not then I'd adjust expectations. The whole point is that it's supposed to be brutal to the point of feeling unfair.
Though this is actually what I'm looking forward to in trying it. I also fully expect to get annoyed by the lack of drops fairly quickly and the general need to go hilariously slow to not die to small groups of 3-4 white mobs.