Moving Pages Up a Folder to come off root domain

[Ham1979]

Good Morning

I've been doing some competitor research to see why they're ranking higher than us and noticed that one who seems to be doing well has changed their url structure so that rather than being www.domain.com/product-category/product-subcategory/product-info-page/ they've removed levels so for instance they now have:

www.domain.com/product-subcategory/ and www.domain.com/product-info-page/ basically everything seems to come off the root domain rather than having the traditional structure.

Our rankings for the product-subcategory pages, which are probably what most people would search for, are just sitting below the first page in most instances and have been for a while

I'm interested to know other people's thoughts and if this is an approach they've taken and had good results?