I think it is better for them to give us the option to show or hide them during the match. Like you can with tagged moves. I know with the touchpad of the PS4 controller, you could have one side used for toggling show/hide of the moves and the other side to show/hide the dragon challenges.

It's on the bottom of the screen, between the meters, where none of the action is. I only find it distracting when I'm in a relatively easy fight and I'm always watching the bottom to see what the bonus conditions are. In a tough fight I hardly ever look down at all and complete challenges mostly by accident.

I'm fine with where it is. If they put it up by the health bars it would draw my eye away from the action too much in the harder fights.

I’m fine with where it is but it needs to be smaller imo.