I think you're not alone in wondering why it was demoted to a Munro top. It was on Sir Hugh's original Munro list but was subsequently demoted in 1921.
Certainly tall enough, there's a reasonable distance from the nearest Munro and, while there is quite a descent, the reascent is about 100m - 150m.
Dare I, perhaps controversially, suggest that it was too far off the south Mullardoch Munros' "red route" and was demoted as a result ?