I have recently purchased an M1 Apple Silicon Mac and installed Dropbox with its Rosetta requirements.
It installs and seems to sync.
The 'Modified' date of many files appears to be the date and time of the last sync (this is in Finder and the desktop app, but not online and on other machines linked to the account, including older Macs)
And some files created in (e.g) Pages on another Mac just don't appear at all. They are there as they can be seen on the web page and on a windows PC linked to the account.
Tearing my hair our as I'm a very much integrated of Dropbox across my devices for work and fun. At this rate I'll be switching to Onedrive or upgrade my icloud allocation.