I would like to see folders return as well. I don't need the "great flexibility" which tags offer, I just want my passwords to be found under a certain folder. Also tags don't give you an easy way to drag and drop your credentials. This is just a mess.
We are working on a way to make it easier to apply tags on iOS. I hope to have more to share on this front soon. On Mac you can add an item to a tag by dragging and dropping the same way you could with folders.
I hope that helps.