Of course, this only works if you spot the small fire quickly. By the time smoke is high up in the air, the fire has likely grown larger than this drone can handle.
Drones are horizontally scalable. Instead of one, 50 can go extinguish the fire.
That said, what would be really useful is a surveillance drone we can send out when someone phones in a smoke report. 9 out of 10 times the call is nothing, but we still have to suit up, drive to the station, get in the engine, and go investigate.