It should already if you're using 13.2, based on this conversation:
I think it describes the same thing, at least. Let me know if I'm wrong.
That's basically how we see it being used. The list is there more for transparency so you can see what's being recorded, and also so you can remove folders you don't want to keep listed. We remember disliking the way Explorer had a fixed limit on how many folders it could remember and that you couldn't see or manage what it was remembering at all...
But automatically remembered formats are still temporary data, I think. If you visit too many other folders before you come back to one, the folder will go back to defaults. (Same in File Explorer, at least the last time I used it.) So they're good for quick changes on folders you're in a lot but not what I would use for something that took a lot of time to set up and that you want to keep forever. (Although you can increase the folder limit really high if you want).
For folder formats you want to keep, it's better to save those explicitly, which means they're in the main Folder Formats list in Preferences, and there forever (or until you delete them).
You can promote an automatic format to a full folder format by right-clicking it in the list, which is the other reason the list is there. (But it's also probably easier to do it from the main window: Navigate to the folder, then use Folder > Folder Format > Save, from the menus at the top of the Lister.)
There's a new checkbox on the Preferences / File Displays / Status Bar page to turn it back on.
Too many people clicked it without knowing what it did (and then it propagated to layouts, styles, etc.), so it's off by default now.