I’ve done a little bit of internet searching to find any announcements by Dropbox of changing local folder changes. I’ve not found anything. Do you know of where you noticed that?
I did find How to find the Dropbox folder on a computer | Dropbox Help and it references the folder I’m using under my home folder. I’ve set Dropbox to keep stuff local/offline.
Did you by chance try putting the folder back where it was, and changing the configuration in your Dropbox app to that “old place”?