I wonder if dropbox might have more photos data than facebook. People only share a small subset of all the photos they have taken and have backed up. I can see that being valuable. Otherwise I am not seeing why they would want to acquire them.
Facebook is in the ad and data selling business (although they of course insist on selling ads only, no data. don't believe them). People put tons of sensitive data into Dropbox backed up accounts like financial documents (financial plans, tax calculations, etc), medical letters, correspondence with employers, holiday plans, etc. Tons of entities would pay lots of money for access to that kind of data.