I ride with my road bike saddle a few mm lower than I would on my mountain bikes so I can drop my heal and drag the pedal through the last part of the downstroke. My toes only point down as I pull up and over the top.
I’m told I have a very fluid pedaling style.
As was said, toes pointing down might indicate the saddle being too high or a lack of flexibility in the ankles.
Incidentally, Basso was experimenting with an adjustable seatpost at this year’s tour which allowed him to lower the saddle by a couple of mm once he was warmed up.
If you look at most pros’ positions, they ride with a slightly lower saddle to allow dropping of the heal – compare them to pros in the 80s and 90s who seemed to favour the higher saddle…