Convert saved searches into sub-folders?

I know this is duplicative of an existing feature request, but the original request is so old, I hope you won't mind if I repeat it.

I would like to be able to move saved searches out of the root directory into project folders, and/or to be able to create them inside folders. I recall seeing a notice that this feature was coming soon, but that was many years ago now. I wonder if the idea has been forgotten or quietly shelved. Whatever the reason (and I assume it's a good one), they look and act like folders in every other respect. I feel like it's a reasonable expectation.

Thanks!
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