Yes of course.
One of the great unspoken truths of modern society is that the overwhelming majority of people who take drugs do so just for that reason -- because they are fun.
A sizeable minority go on to develop problems with them because a) they exacerbate underlying mental health problems or b) the user becomes addicted.
But IMHO one of the reasons drug education programmes are largely unsuccessful is that they don't draw a distinction between safe, reactional drug taking (yes there is such a thing) and problematic drug taking.
Someone who takes cocaine or ecstacy occasionally and knows when to stop and how to stay safe is at no greater risk than someone who drinks to excess every weekend (probably less so). Someone who does it every day, or who escalates to heroin or crack cocaine, is going to be in all sorts of trouble.
But the blanket policy of "say no to all drugs" is very quickly rumbled by people who have taken drugs safely as a lot of bollocks.
If you're 17 and try ecstacy or whatever kids take these days safely and realise that nothing too bad is happening to you, you are less likely to trust the official recommendation not to take other drugs. And some drugs, particularly heroin, are seriously bad news.
I'm not necessarily in favour of legalisation for other reasons, but I think we need to radically overhaul the way we talk about drugs.