Other system related items like Device Notifier, Audio Volume and Network Settings are located in the System Tray. I would find it consistent to also find the Desktop toolbox - which is currently located directly on the desktop and being able to be enabled/disabled via Folder View Settings -> Tweaks -> "Show the desktop toolbox" - also in the System Tray. Not exclusive but additionally. Another benefit would be that it could be then reached directly without having to minimize all windows. If the user does not want it, it could be disable in the System Tray settings.
The Desktop Toolbox is no more. :)