This seems to be highly tied to the challenge of moving things around on a mobile phone (multi-touch device). While I do think there's benefits for accessibility in this sort of UI, I think most users would prefer if a multi-touch drag/drop reordering UI would be... multi-touch. I should be able to drag with one finger and scroll with another. I find this to be almost nonexistent in practice though :-(

EDIT: On a desktop you have a mouse wheel that very much serves this purpose at least in a single-view scenario. Again, accessibility is a whole extra layer to the topic