Is there a way to downgrade the version of Dropbox on the computer to an older one? new update.

I too prefer the older approach to storing files in Dropbox.  This change makes Dropbox practically unusable for me in MacOS.  I rely upon the fact that Dropbox replicates my files across all of my devices.  If I ever lose access to Dropbox for any reason (perhaps Dropbox servers are hacked or undergo a massive DoS attack), I still have my files on my devices.  I rely on the fact that I can open a text file in my favorite text editor, edit it, save it, and have it replicated across all of my devices.

This change effectively makes Dropbox useless to me on the Mac.  I might as well use iCloud Drive instead of Dropbox.

I wish I had realized what this was going to do to me when I blithely clicked "Accept" when Dropbox prompted me to move all of my files.

This is a shame.  I have been a long time user of Dropbox (since 2007).  I can no longer recommend it.