Wavefolding sounds good (but limited) for triangle waves. Not as good for other waveforms.
This makes sense because wavefolding is waveshaping with a triangle-wave function. If the triangle-wave function is antisymmetric, you make odd 'harmonics' at critical points (triangle waves at odd multiples of the fundamental). If symmetric, even 'harmonics'.
If the waveshaping is done with a sine function, and you have sine input, this is just FM.
So triangle functions match well with triangles (and mixtures), sine functions match well with sines. And this suggests, there may be something related in the 'sound' of wavefolding and FM.
Wavefolding sounds especially good for mixtures of triangle waves. But the oscillators have to be synchronized, usually by soft-sync, which is rare in analog designs.
Timbral transitions can also be rough, if there's a change in the average amplitude of the input wave, or the average (DC) level. This roughness, which sounds like a 'scrambling' of the timbre, is unfortunately all over youtube examples, so it may put people off.
So in mixing different triangle waves, if you want to vary the mixture and get a smooth result, you need to crossfade them.
So you need a weird architecture to take advantage of wavefolding, which almost has to be digital to be practical, especially in a commercial polysynth context: 4-6 triangle waves, synchronized to harmonic or subharmonic relationships, several wavefolders, and also plenty of crossfaders for timbral control.
But then digital with fixed clock rate introduces aliasing, especially under these kinds of nonlinear transformations. So you either need one of these 10 Mhz-FPGA platforms, or you need to apply some techniques discovered only recently, which may actually work quite well at lower sampling rates:
https://research.aalto.fi/en/publica...nonlinearities
Assuming that's solved, the complex architecture is still a lot for the user to manage.
So a commercial design will probably give a choice of fixed 'algorithms' (i.e. routings of the oscillators, wavefolders, and crossfaders), and give the user control only over the frequencies and some assignable envelopes for timbral transition.
Sound familiar?