One of the biggest negatives to this exercise can be the objects. If short objects are used, the theory is that this will promote heads-down dribbling. Many coaches will use flags. This allows a player to pick his head up to see the object while dribbling. Another reason flags are useful is that the stick in the ground.
Cones tend to get knocked over very easily.
Other players can be used as objects, which may be the ultimate in dribbling obstacles and does not require an equipment purchase. In any case, do NOT use any object that is short that sticks in the ground, unless the object will bend easily, in case a player falls upon it. If flags, etc. are not available, then by all means use short cones, as the key teaching element of the exercise is the dribble touch, be it heads up or not. The coach can make the exercise as simple or complex as the players can handle. The techniques above should be first tried in a wide open setting.