The vertical play at the tip of my lever about 7mm.
I'd've thought there should be some travel to allow the lever to pivot freely, but what's considered as 'excessive' I wouldn't care to guess!
If it's an OE lever it should have a ducati logo on it next to the 4 point adjuster, otherwise it could well be a pattern jobbie.
I use pattern levers on the DD bike and there's quite a bit of play in them... but they do the job and cost a millionth of the price!