I would hope there is some logic in the game already, like not being able to get lift when folded. Guess I will have to experiment, else like you said, it would just be a visual effect.
Edit: Was thinking of engine state as an option, but given the lightness of the ‘plane’, you can glide for a long time and that would look stupid without wings 
It’s a more fun way to learn Blender a bit. And see what MSFS supports in terms of basic GLTF features.