This is a major downgrade in the Dropbox user experience. It makes it more confusing to know what is shared WITH THE ENTIRE WORLD and what is not, which is a tremendously important thing to know. Simultaneously, it makes it more difficult to share files. Dropbox "gains" by adding their splash screen into the file download process, but every user of the product loses. This is a decision made by the marketing department.
A major step backwards for Dropbox.