Yes, you don't want to much rod while casting underhand. You want the rod action to work with a faster time, remember your not putting as much force in the cast like in overhand. *'would be fine, I just find 7' more manageble for me.
With underhand casting (flipping) it's not always so much about the cast as it is what you do after that: bringing your rod up and reversing the rod in your hands. I've seen guys drop their rod at that moment, although I have seen one guy just flip the whole rig out into the ocean. But if it's a busy pier and people are tight at the rail or a lot of people are going by behind you then it's a good way to cast straight out without snagging people or things, especially if you don't need a ton of distance.
On the pier I fish a 6'-6" medium rod with lures for smaller predator fish, a 7' medium heavy with moderate action for using bait for panfish, and an 8' medium heavy with fast action for anything larger (puppy drum or large trout). I can underhand cast all of them and often do. I'm not one of those end of the pier guys, that's a whole different trip, but for everything else underhand casting has its place.
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