Personally, I'd consider this nothing to write home about. It's OK. Not great, not terrible.
If we're laying off 20% of the company, I'd expect the package to be somewhere in the 6-12 months range. To me, that would seem more fair, considering they are completely restructuring the whole company.
I'd rather take having a tech industry at all and the 2-4X bigger US salaries (and 30% lower average taxes) than having my fellow citizens shoulder the burden of giving me 6-12 months of daycare.
In the US luckily the job market is still quite dynamic (and extremely tight by historical standards) so only in an extreme scenario would someone with Dropbox on their resume need 12 months to find another job.
They might have to take a pay cut from a 99th percentile salary to a 96th percentile salary though. Rough, I know.
