Interestingly this is basically how 1Password did password sync for years - not a Keepass database, but a 1Password folder structure stored within Dropbox savin

Interestingly this is basically how 1Password did password sync for years - not a Keepass database, but a 1Password folder structure stored within Dropbox saving a bunch of little text files. They added other synced storage options over time before turning up their own cloud service, but third party sync was where they started.