Yes, I know it's not a problem to have the library working when the media folder is called "iTunes Media", but as I said all along, the problem is when the media folder is NOT named "iTunes Media", but something else (in my case "ALAC"). That is the issue I am having.
My media folder has been called "ALAC" since the beginning of time (no, actually since 2013) and yes, it is not supposed to be called anything else, there is a reason I have it mapped to ALAC. Lots of reasons, actually. Just one of them is that I have various media folders (in the path blablabla\music named according to their content (as in AAC, FLAC, ALAC) etc... which are not supposed to mix and mingle, some other reasons as well (mapping to various music players, backup programs, etc.). Even IF the ALAC folder were called "iTunes Media", it would still not work for the "AAC" folder, which iTunes would then also want to call "iTunes Media" and so on... there are other issues as well, but even if they could all be addressed (some only with tricky workarounds), it should not be too much to ask from iTunes to simply remember its own settings again, a function that is clearly there but is now broken! If nothing else, it goes to show that there are some fairly incompetent programmers at work, as this is not even an exotic function. Setting a "working folder" is standard procedure for just about any program, not just music players, but word processors, graphic programs, whatever.
That is why I know your solution has helped quite a few people, but it does not work in my case. I have more than one (iTunes) media folder and they cannot all be called "iTunes Media". That's just ONE reason why that won't work for me. :-)
Thanks and best to you!