Here are just a few characteristics of Dropbox that this project doesn't have:
* cross-platform (windows, mac, linux)
* an easy to setup GUI client that is possible to setup by people who don't necessarily know how to enable inotify in linux kernel or copy autosync.py to location in $PATH
* won't fall over when a merge conflict happens (and a merge conflict will happen and even I, who uses git daily, would be unable to resolve it)
We are good at extrapolating and making connections but in this case extrapolating from "files, sync" to "my linux-only python script is a replacement of Dropbox" is about as valid as extrapolating from "wheels" to "my home made unicycle is a replacement of Toyota Prius".