If I decide to ditch dropbox, does anyone have any pitfalls they would like to warn me about?
Well, it depends on the service that you switch to.
Make sure you turn off syncing and move everything out of your Dropbox folder before you cancel your account. We just went all iCloud and it meets our needs but does lack a few features of dropbox.
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Some apps just require or integration works better with Dropbox vs. whatever you are considering using. That is due to Dropbox’s exposing a “better” API to developers. Check out your app’s requirements and/or your expectations.
Do you have any apps which will only use Dropbox to Sync (Looking at you Scrivener 
)
I ditched Dropbox at least a year ago moving to iCloud and I’ve not missed anything other than sharing files with others, and even that I don’t do very often anymore.
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ditching altogether or going back below the free limit?
That’s what I did. I have a few apps that require it for sync, so I just use the free tier. But I’d like to try to ditch it completely.
More because I’d rather just pay Apple and be able to use the space for iOS backups, etc. 
I’ve not reinstalled Dropbox since I got a M1 and I’m content.
I started to use Google Drive for sharing files last year (through a web browser), mainly because they offer features in their basic cloud storage that Dropbox only allow for “Professional” tier users (like stopping shared videos from being downloaded). I don’t use any apps that require Dropbox.
All my personal stuff is in iCloud now and I’ve been finding it rock solid. Desktop syncing in particular has become flawless and instant.
I certainly don’t miss the mass of integrations all over MacOS. Finder feels much cleaner and leaner without the added menus and status indicators. I also am happy to have saved over €100 a year in subscription costs.
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