Microsoft has made great improvement to public folders and you can take advantage of them with CloudPanel in your multi-tenant environment. In the past Microsoft has used public folder databases and you had to put all of the content and hierarchy in those databases. Starting with Exchange 2013 they have moved away from using databases and now allow you to use the mailbox architecture to deliver your public folders. This allows for increased scalability and redundancy by utilizing your existing DAG.
CloudPanel only supports public folders for Exchange 2013 CU5 and later.