A simple L bend in metal could be called a drip edge, but in real life that just doesn't happen. Typically you want a drip (bottom edge goes out) or grip edge (bottom edge goes in) to either stiffen it to the fascia board or to deflect water away from the fascia board. The drip/grip also keeps the metal from looking wavy. On commercial drip edge there is an ANSI/SPRI ES-1 requirement in most building codes. This type of metal is a heavier gauge than residential metal and has a clip on the bottom rolled edge to hold down the metal in wind events.