yes, Skydrive is very similar to Dropbox.
I use both actually. Skydrive, because I have 25 GB with them versus Dropbox where I have 11 GB. Functionality is pretty much the same.
Dropbox is easier to use in my opinion. I spent forever trying to figure out how to share folders in Skydrive. Had to resort to googling and watching videos on how to share a folder in Skydrive. Without tutorials, I kept on sending email links to folders which is not the behavior I wanted (I wanted to have a folder, like in Dropbox, where you and your friends can drop files into back and forth).
But now that I've watched some videos, Skydrive is fine. I just think you shouldn't have to watch tutorials.
I miss Live Mesh though. I used to have a combination of Dropbox, Skydrive, and Live Mesh. But Microsoft retired Live Mesh.