You could make that chain shorter, but its not overly-long, so while it errs on the slightly too long, I wouldn't bother with chain length changes.
There are two very minor positives about having a little slack in the chain:
Your chain wear is spread over two additional links, which is about 1.9% improved chain life if we presume that more links means slower chain wear because it adds an extra inch to the chain.
If you have an issue on the trail/commute that damages some of your chain, it is possible to use a spare master link to make something that is still rideable while removing the most damaged sections.
If the chain were tight, you can't remove any and still have full range of gears.
I've personally done this on my recumbent, where the chain is around 275 links.
Downside to a slightly too long chain:
Weight - you're carrying another two links around. Perhaps 5 grams?
Sag - as noted, the spring in the derailleur is a little weaker at the end of its travel, so it can't pull the bottom stretch of chain as tight. This lets the chain slap around a little more when in some gear combos.
I can't speak to how a clutch derailleur would handle this situation.
As pictured, your chain reaches around both big-tooth-count cog and chainring without being too tight, AND it does the small-small pair without letting the chain rub on itself passing under the derailleur.
I think your chain is a fine length as pictured.