So often and here again it comes down to what one considers "folk". As soon as anyone with an acoustic guitar singing anything was accepted into that definition, a new one should have been made for traditional music. Though I suppose again the belly fluff singers would want to encroach on this new name, to enhance their credibility and perhaps give them an audience.
Traditional folk will never be able to compete against the Ed Sheeran / Bob Dylan / Paul Simon wannabes, but so long as it stays living and breathing, that's good enough for me.
I hate going to folk clubs and hearing earnest new songs about broken hearts tho', I find it torturous. Why couldn't these wallopers have considered themselves jazz, instead?