"That is your personal belief."
Not really Hoot, unless you think we stall have a living tradition
While the copyright exists it will still be the property of the holder
If children parody it and make their own versions, their creations may become folk songs possibly
But beyond that....
None of this is "my personal belief" - - that's what folk song is
It may be your "personal belief" that the song is a folk song, but you are going to have to argue for it
Feel free
You know as well as I do that royalties paid to 'folk'writers are pittances unless the industry can make something out of it first

As far as agents are concerned - NONE SO DEAF.... ...
Jim