Pop music is Traditional Music. If you look at the website of The International Society for Traditional Music it says: Its aims are to further the study, practice, documentation, preservation and dissemination of traditional music —including folk, popular, classical and urban music— and dance of all countries.

If you're asking can Pop music become Folk, well that depends on whatever your personal prescriptions of Folk are. If you define Folk Music in terms of context rather than content, then I'd pretty much ALL music has the potential be considered Folk Music if played & discussed by Folkies in a Designated Folk Context (Folk Club, Festival, Mudcat etc.). This is an empirical definition: it states not all music is Folk Music, but all music can be Folk Music if played by Folkies in the name of Folk.

So Folk Music = Music Played by Folkies. If a Folkie plays Johnny B. Goode, then, chances are, it'll be Folk Music. Certainly if Jim Eldon played it (which he probably has done at some point) it'll be Folk in the best sense of the word. If a Rock 'n' Roll musician plays it, then it'll be Rock 'n' Roll - a Traditional popular musical idiom. Simples!