Yes.
There are some compatibility issues if you want to access your notes using some of the markdown editors available on iOS and Android. How do I work with Obsidian on Mobile?
Using folders to keep your files neatly sorted by creation date limits your ability to sort for anything else.
In the file explorer, I like to sort by edit time (newest first) to go back to things I was working on, before getting distracted. The more folders you have, the more places you need to look for work-in-progress. Sorting by edit time (oldest first) could help rediscover notes that you haven’t looked at in a while.
Sorting AZ and scanning the list of file names can be a convenient way to browse, if you’re not sure what you’re looking for or can’t remember the exact keyword used. The more folders you have, the more expanding and collapsing you have to do to get an overview.
So far, I’m finding searching for dates to be a more flexible approach, since 2020-06 also allows me to find meeting notes from June that I wrote up in July, or mentions of events embedded in a longer discussion. However, this could easily get cluttered up with cross-linkages as my vault grows.