I have a lot of files (>370K) but vast majority are online only after trying to address this issue via solutions in other threads. I have 134GB of local files and maybe 500gb more are online-only.
Dropbox app is using another 875mb. ~7GB total seems like a lot of RAM usage.
No files are currently syncing, it says all are up to date. I recently did the update to dropbox location that required resyncing all my files, before that Dropbox was using 48GB of memory.
On Dropbox v215.4.7202
M1 MacBookPro 32gb/1TB
Backup is not enabled