I've thought a bit too much about this "Folk or Not" type of thing than I really should have over the years ... as many of us have. We really should just like or not like music - but I have come to certain conclusions that are usually relevent in classifying styles.
1. Strictly speaking, musicologists classify "folk songs" as songs which were collectively composed by many people within a set culture over a lengthy time period, usually many decades at least - not by one or several individuals who quickly write a song.
2. In actual modern practice, we now think of a "folk song" as a piece of music with a structure that tries to mimic this natural process. It was pretty much a reaction to the over-complexity of a lot of 20th century music. People looked back to the simplicity of "folk styles" and tried to write stuff that was simple and direct the way strict folk songs are. The level that one succeeds in making this happen determines whether your effort is indeed a "folk song". The title is really always up for grabs by anybody making music, but it is sometimes very obviously successful ... and more often not.
   My opinion of this song? The structure tells me that it is trying to get "folk song" rights, and it is very well performed in a clear traditional vocal style. Its message just seems to meander around a bit too much for my taste ... I think it could definitely use a few hundred years being bashed around in a strict folk tradition to pare it down to a more direct, meaningful piece of music. I kind of like it, though.