It's not 'dumbing down' the process. It's making it clearer for the end user what exactly your site does. If someone on HN couldn't figure it out - you've got problems.
For example,
Change from "Enter a name for your drop" to "Enter a name for your file drop"
On your title it could be - "dropsauce - Drop off your files at Dropsauce & share them"
Right now your site looks like it's about naming your drop. Not about putting files which can be password and time protected.
The reason for drop vs add button is because some browsers don't support drag-n-drop (they wouldn't see that option).
Maybe I will go back to the drawing board and make dropping/uploading files the primary focus and naming it or changing passwords/expiry more of an option.
Would hiding those items in a collapsable div be the right thing?
I.e. the first thing you see when you get on the page is to upload files. And if you want to change options, click to expand the form and change it there.
For example, Change from "Enter a name for your drop" to "Enter a name for your file drop"
On your title it could be - "dropsauce - Drop off your files at Dropsauce & share them"
Right now your site looks like it's about naming your drop. Not about putting files which can be password and time protected.