If you understand how git works, you don't need a tool to do this, and especially not a python tool. Don't misunderstand me, I love no language more than Python. But putting a directory under Dropbox supervision is the easiest thing you can do. That doesn't change because it's name is ".git/".
Are you sure you've correctly identified the "this" in question? This enables using Dropbox as a shared remote repository, which is more than putting the directory under Dropbox.
