It will probably run iOS when folded, and iPadOS when unfolded.
Since iOS isn't formatted for wider screens it's bound to get iPadOS features like split screen (or stage manager if the rumors about stage manager being on iPhones is true), responsive iPad apps, and the dock on the internal screen. It doesn't make sense to run two OSes so maybe this will begin the process of merging both into a single responsive OS.Dream on...
But really, knowing Apple they will complicate things by creating FoldOS as yet another Operating System. LOL
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