Folklore is one of those games that are great in a vacuum, but also leave you wanting more, and wondering "What-if?" if history was just a bit different, if the game had gotten more sales, it could have been possible we would have gotten a sequel, if not a franchise out of it. Even the fate of Game Republic as a company itself could have changed course as well, perhaps even the gaming industry depending on how large of an impact they make in that alternate timeline.
All we can do is speculate of course. Hope for any new content for Folklore is dead as of now. With Game Republic being defunct and nobody picking up the rights, Folklore is in a limbo. The Game itself being only preserved by emulation, with no other entity to support it. Yet despite that, it isn't in the hands of the public either. We'd be long-dead before anyone would be legally be able to make anything new for this IP. But even then... would anyone alive in 2077 and beyond remember this game? would anyone care to see this to be revisited then?
What would be more tragic, is the possibility that should the world not be able to endure what we do to it now, that all traces of this game would disappear, leaving nothing to even be remembered in a time where we can do anything with this IP.
Ah, I have rambled quite a bit, and had not told much of the game itself, haven't i? I am not quite good at putting that into words, but I'd recommend you give this game a try if you have a Playstation Controller from 3 and beyond, maybe with a pirated copy since it hasn't received a release in any digital stores, however if it is ever rereleased anywhere somehow, you could try picking that up too.
I believe it is more fun if you experience this game for yourself, form your own opinions rather than depending on that of mine. Find your own joy, satisfy your curiosity, and reflect on your experiences.
Thank you for reading this. I have put some thoughts of mine thinking about this game here after recently playing it again after a few years. I hope they have produced some form of intrigue or interest for you.