I had a share I thought I was removing at a lower level and it emptied the folder. I doubt it but wanted to ask.
The tricky thing is, you can 'remove' a resource and it says do you want to delete this item. At the highest level, this removes the resource only. If you go into a folder inside the resource, it will present exactly the same dialog and ask if you want to delete this item. Of course, the inside one's delete delete the items whereas at the highest level under resource will delete the reference to the network space only.
A nasty trap for all players :)