Whenever someone comments on a shared file in dropbox, I get a red circle on the dropbox icon in the menu bar. This interrupts my workflow and I have to get rid of this feature if I want to get any work done on my computer.

I have turned off all notifications on Dropbox app and on my system preferences, but the red circle still appears. I think this is bad software development practice to circumvent system preferences (which allow you to choose which applications can show the badge app icon) by putting the red number in the menu bar (which the user has no control over).
I have now spent significant amount of time trying to find a solution to this, but I'm starting to fear it is impossible. I wish I had not updated dropbox, I have lost so much working time because of the update that introduced this red circle.
Has anyone found a way to permanently disable the red circle or to hide the dropbox icon from the menu bar completely? Is there a way to request this feature (or rather file a bug report, I can't believe the circle is there on purpose when notifications are turned off) from the dropbox dev team?