Yes! Along with clicking the options button below an asset to move it to any folder location on your account, you now have drag-and-drop functionality too, so you can drag-and-drop a video or image into a folder or sub folder seamlessly, making your organizing more efficient. You can also drag folders into other folders to create a richer chain of sub-folders.
There is also a move button located right next to the "Add sub folder" at the top-right of your project screen. This move button will allow you to select multiple assets and folders at once for a larger move in one go.