I was gonna request the same thing. Its good to have the ability to create subfolders in our local asset library for materials and models, because right now all the materials are shuffled here and there. Having subfolder will make it easy to grab material/ models based on its categories. Please make it happen asap.
Another suggestion, wouldn’t it be much better to find a way in the future to be able to download only those objects you love in the asset and also save your own there. At the moment I am scrolling endlessly and there is so much in the favorite that there are no favorites either.
Then it would also load faster.