I think this is also how adventures ought to be produced.
It's basically a detailed setting, which includes a situation setup and some dramatic events, like you say. I'm a little alienated by the more scripted style of others.
It's also worth thinking in triggers, I think, e.g. "if one of these things happen, dramatic event X gets triggered". That gives a lot of freedom for how to get there, and still allows you to plot loosely if you wish.
Some adventures benefit from...
