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There's a marketing opportunity here for Dropbox. "Dropbox, we sync all your files, not just the links to them."

Drive syncs all your files, too.

The various Google Docs, etc., web apps only put links to the real content in Drive, however.

Any file that you created with a method that would let you store it in Dropbox will be synced the same way in Drive as it would be in Dropbox, the only difference is web apps that are tied to the Drive UI that don't store their substantive content in Drive in the first place, which obviously Dropbox won't help with. (Conceptually, you could have web apps that do the same thing in Dropbox, though I don't know if the Dropbox API and Web UI have features that would make it attractive to do.)

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