Can i restore mysql database to point of time when it was just installed/factory default? I have an application on Centos VM that uses MySQL DB.I took a MySQL backup from another such application installed on another VM and loaded the backup on my current VM. I did not take a backup before doing the restore. Is there any way for me to go back to the factory default DB like when i first installed it? Does DROP TABLE actually delete tables or drop data from the table?
For PIT recovery, see if log_bin was turned on.

DROP table/database/etc promptly and irrevocably removes the data and schema.  DROP cannot be in a transaction (until Version 8.0).

If you are hoping for a "recycle bin", be aware that COMMITting a transaction effectively flushes what you might think of as a recycle bin.