Yes, that folder is called a "Drop Box" (note the difference in spelling between that and the company name "Dropbox"). Dropbox (the company) named itself after the more generic term "drop box" which is essentially like an open mailbox where, if you allow file sharing, other people can write files to your home directory without actually having to give them read or write permissions to any of your other files.
Be careful about file sharing when you're on public networks like hotels or even libraries, schools, etc. Your Mac will announce to the entire network that it has folders available for sharing, and people could write all kinds of clutter to that folder, even just as a prank. Don't ask me how I know this.