Yes it works
Lets say you have an app in Root > Appsheet > Data > App#1-1234567 and you have subfolder called “Files” under that folder. Now if you select that “Files” folder and then Shift+Z, you can add that folder to Root > Appsheet > Data > App#2-1234567. Then your app is able to use that same subfolder for this 2nd app as well. Your app has access to your files even they are all in the same subfolder.