Hi Everyone,
I've been baking a few loaves of bread a day to learn the skill and yesterday I decided to dye the top part of the dough each time I folded it to see if folds have anything to do with say hole formation, etc. It doesn't appear that folding has anything to do with holes. I did three folded cycles. Each time I folded I painted the top of the dough blue.
Thumbs up!
Folding in and of its self has very little to do with the formation of holes, though the irregular gluten network developed through a few well done sets of stretch and folds is exactly what its all about.