We "rearranged" our project folder structure late last year. I'm not going to give you an example of our current one because, honestly, it sucks.. lol. However, I will tell you this: "Less is more".
We went from a long-standing (decades-long) structure of about 4 folders total per project, to what can only be described as an overly-complex system of about 50 folders per project! (keep in mind, this is "recommended starting structure"... we are a multi-discipline firm, and the creators of this folder structure attempted to incorporate every... single... thing.... we do into this one structure each in their own folders).
What this has led to in a very short amount of time is probably about 30% of all the files we typically place in a project folder being scattered all over the place because the folder structure is so complex and spread out that most of the people in our office no longer know where things are supposed to go.
Of those starting 50 folders, I typically will delete about half of them immediately after creating the project folder. That still leaves a project with over 20 folders for people to have to wade through to find things. It's resulted in immense amounts of grumbling, to the point that people are doing their own things more and more rather than use the recommended structure.
So, there's a fine line between reorganizing your folder structure and making it so difficult to utilize that your organization will actually get worse due to people not using it.
Less is more.