It doesn't produce healthier dogs - there's actually an increasing number of vets saying the opposite. Many dog breeds, particularly those used in designer doodle breeding, have the same health issues: PRA, Heart Defects, Hip Dysplasia, Elbow Dysplasia.
So, what you end up with is the exact same health issues as if you had bred two pedigrees.
The big issue with designer doodle breeding is that the healthiest pedigrees of certain breeds that are popular in poodle crosses are bred by 'breed enthusiasts' are not being used to breed these designer doodles. These people breed their dogs, i.e. Cocker Spaniels or Golden Retrievers to make their own breed healthier. Therefore they are not letting their dogs be used to breed designer doodles - why would they? They have no 'skin' in the game. They are the sorts of breeders people should buy from - people who breed to breed the best (healthiest) examples possible.
I use the example of my boy a lot. He has the best hip scores I have ever seen in a Golden Retriever, he has generations of full health tests on both sides. I would never in a million years use him to breed Goldendoodles - I breed to make Golden Retrievers better, not to make money. I could make high five figures if I studded him. But I don't. Ditto with my girls. And I'm not alone in that.
The healthiest, best, studs and dams are not being bred with poodles (and neither are the best poodles being used) because not only do these owners have no interest in 'Goldendoodle' or 'whatever-oodle' breeding, but also breeding your well-bred pedigree with (usually) puppy farmers or those more invested in money than the breed devalues your own dog - which means other pedigree breeders won't use you.
If you look at the average dog being used to breed designer doodles, they are either not fully health tested (in which case no one should be breeding them anyway) or they are but their scores are awful. Some even say they are fully health tested...but they are not. I just checked Pets4Homes - Sevenoaks - Cockapoo. First litter that came up said full health tested. But the dogs aren't...as they have no elbow or hip scoring - which is a serious issue in both poodles and cockers.
Many dogs used for breeding designer mongrels are also over-bred (3-4 litters per bitch, way above acceptable standards) and then dumped or sold when they can't be bred from anymore. Which means the people buying these puppies are not only buying unhealthy dogs, they are contributing to animal abuse.
They are also increasingly crossing Poodles with (quite frankly) completely insane mixes - like Lifestock Guardian Dog Breeds. LGDs are lovely dogs, but they require a particular sort of (experienced) owner. Crossing a LGD with a Poodle does not remove generations of 'guardian' type behaviour (at a very base level) no matter what these breeders say. There's a-lot of myths around the personalities of these designer doodles - often, the reality is a much more unpredictable dog (in part because the sorts of people who breed them do not raise them well in the first 8 weeks - and if the first 8 weeks of a dogs life are bad, chances of it ever being a well-rounded member of society are pretty slim).
So, to answer your question: not healthier as the best dam/sire's aren't being used, often not fully health tested, and very often buyers support animal abuse.