This is absolutely required.
Right now I try to use a consistent naming scheme to help keep profiles organized but that quickly becomes unmanageable as a project progresses. Folders and subfolders would certainly help this.
I too have other wishes for profile management, but lets not muddy the waters for this wish and just keep it to this single simple issue!
Erich
AC 19 6006 & AC 20
Mac OS 10.11.5
15" Retina MacBook Pro 2.6
27" iMac Retina 5K