🙄 I already mentioned that you are right that only one folder out from enumerated will be visible. I don't know why you ask if any parent folder will be visible. 🤷 Of course not, if not visible by some other way, as mentioned. When you have shared some folder entire content is visible, including files and subfolders (recursively), of course (not parent folders).
That what I described above are the rules. Why you decide one or another thing, nobody else knows! There are different options as alternatives. Do you ask a question to yourself? 🙂 Organize your data (folders and files) as is most convenient to you. 😉
PS: Just for completeness one more rule: Shared folders can't be nested.