Is there a meaningful difference between share and upload any more? "I have something on my device, I want to put it somewhere else" is how that icon is used in iOS and OSX, and for almost all of my use cases, that seems to be correct.
Well, for me at least the difference is that uploading implies a single destination (I know this doesn't always hold, but conceptually I think it does. Otherwise there are multiple distinct uploads)
And sharing implies multiple agents, be them on a single or multiple destinations. I know my definition doesn't seem clearcut, but I think the implication is that you could share by means of uploading or you could share without uploading anything (excepting maybe "uploading" the link to someone else), but you can also upload without sharing anything (i.e. I upload to my private server) and that's why I consider them different concepts.
I think your over thinking it from the normal users point of view. I want to press the button to give this thing on my phone to other(s). How that happens isn't really my concern (link, full file, etc.).