All players should honor the sort order displayed in folder view while running a slideshow.
Currently when viewing a Photos library in the Photos, view mode, folders are sorted in with photos and videos. When you run a slideshow it plays them back in the order you would expect, doing depth first dive into any folders encountered.
When viewing a Photos library in the Album view mode folders are sorted to the top and photos and videos are sorted below. But when you play a slideshow, the slideshow sorts everything together as above.
This can be confusing in Albums view mode because slideshow does a depth first playback (going into folders) and so you can see wildly different order than expected.
In fact, there should be two ways to launch a slideshow:
Current folder only
Include subfolders
But in general, the order of slideshow playback should always follow the configured sort order no matter the view mode.
I have thousands of personal photos and videos and folders and love their accessibility, but slideshow playback is not greatly useful at the moment because of this.