I don’t use it myself, but the description suggests that. Also, the first sentence of the ‘Readme’ document, which is linked on the ‘Apps’ page I linked, says:
Team folders can be configured through Team folders under Administration settings.
So yeah, I’d say it’s an Admin setting 
I suggest you set up a test instance, read the docs, and then just play around with it. That should clarify a lot of things.
If any more questions or issues arise during testing, you might also want to search the forum and the internet for ‘Nextcloud Team Folders’ or ‘Groupfolders’ (the old name). Or, of course, you can always come back here with more specific questions. 