It's complicated...
In Pokemon GO I have dropped many a potion and some revives in favour of keeping inventory space for Pokeballs. I'm eager to buy bag upgrades so I don't have to drop so often.
In Fallout, healing items are fair game, as long as they don't feel too powerful for general use. This includes stimpaks and similar food items.
One strange quirk I have is to "accidentally" perform badly in combat to give myself an excuse to use certain healing items to give myself inventory space. It's really illogical, I might as well just drop them in that case but who knows what chimp part of my brain says this is the right thing to do.
However, one item's ingredients were the bane of my existence due to my incessant desire to hoard them. Two scrap metal, duct tape, wonderglue, scrap electronics and a wrench gets you one weapon repair kit. And despite only needing those kits every so often, over encumbering myself with the ingredients regularly and only carrying a few with me at a time anyway, I could not ever give it up. Something in me needed those kits.
So, it depends. Generally I will want more inventory space to keep dropping to a minimum but I will use items when I can, sparingly so and will load back to avoid what feels like unnecessary waste. You may judge me for that.
But I can go mad for particular items and components and can do some pretty strange things as "compromise" between dropping and waste.