Retool Storage vs S3 bucket: folder inconsistencies

When I create a folder in Retool Storage and I then go check my S3, I don't see the folder there. Equally, when I create a folder in my S3 (from AWS console) and I then check /files in my self-hosted retool, I don't see those folders.

Is this expected behavior?

PS. file uploads, etc work great and are visible on both ends. I am on self-hosted retool.