Do the sides absolutely need to fold down? I am sure you are seeing the "repurposing and bed riser" theme here. I use a kid-sized pool table (from Sears, I think), covered with a thick plywood and set on inverted clay pots AND bed risers.
The most important part for me is that it's heavy and doesn't sway or move, even when set up very high. I thought I had mine high enough with just the clay pots -until I herniated a lumbar disk bending just slightly over it. So, for me, the big thing is stability at any height, and I would think that a folding table may be less likely for that.
Hugs,
Charlotte