Apple did not get it wrong. Steve Jobs offered to buy (for a putative $800M) but Drew Houston said it was not for sale. Thereafter, Steve was reportedly to have said that Apple would crush them since Dropbox is a feature and not a product.
I stand corrected! I thought he didn’t want to buy them for that reason, didn’t realise he had made an offer.
Dropbox Paper is also a delight to use, from a personal perspective. I’ve never used it on a team. I would be interested to hear whether teams of 50+ have successfully used it — it just doesn’t feel ready for the enterprise in the way that Google Drive does/is.
I’ve not read this S-1 (perhaps it clarifies this) but Dropbox seems a little confused about positioning B2C vs B2B. Does it have a packaging problem? Can it have it both ways? It feels like it’s trying to, but when I was a paying Pro user, I couldn’t get away from the upsell on the site for me to move to the business package. Annoying.
Good luck to them though — they have killer design, a killer viral product and a loyal user base.