Does the Drake equation include us, that is, Earth? In other words do we know that N > 0 (since we exist) or can N = 0 (since we're not included).
That said, this particular parameter will likeley be higher, since we have found several exoplanets, that are estimated to be habitable.
However it's worth pointing out that the Drake equation is couched in terms of probability so as long as N != 0 it's fine, there is no reason billions of civilizations can't exist no matter how asymptotically close to zero the probability of even one civilization is, it would just be weird.