Metadata is essentially custom fields for your media that can help better organize the media library.

Smart folders are essentially folders that contain media that meets a certain criteria defined by the user (Ex. Metadata field: Service = HVAC)

The useful part about this is that it would allow users to store media in multiple folders at once without making copies.

This is how the “Collections” feature works in Frame.io by the way (which is the best media library I’ve found to date)