Here's mine (see attachment). I always keep my project folder tied to the current version (this is one of the prompts during the install when upgrading 2.6 to 2.7). Hence, my Projects folder is below the Designer2_7 folder.
All these folders exist.
If the Projects folder is pointing to a server or virtual drive that it does not have access to, or to an older version of Designer that has been wiped from the PC, you will get strange behavior.
Similar issue for the Backup, Auto Save, and Edit History folders.