If it drops fast and the plants are drinking good then it IS a strong indicator but it's not always true that a dropping ppm automatically means the plant wants (as in 'needs') more nutrients (to create its own food, you can't feed a plant). It does mean you can increase the nutrient uptake, doesn't mean it actually wants/needs it. Look at the plants first, meters second. It would be more true (still not 'always') if the nutrient solution contains exactly the ratio of elements the plant uses but that's never the case.