Yes - all that means is that now you can move a file into anywhere in your Dropbox, right-click it, and click (in the Nautilus plugin) "Share Link" and get a publicly available link.
The only thing that the Public folder did differently was that it did the equivalent of "Share Link" for every file in it, and also had a public index of files in the folder.
The only thing that the Public folder did differently was that it did the equivalent of "Share Link" for every file in it, and also had a public index of files in the folder.