No, the folder does not exist.
The first attempt follows the guide linked in the OP while the second follows the official guide from the website (https://www.elastic.co/guide/en/elasticsearch/reference/current/getting-started-install.html).
Both using a clean install of 18.04.2 LTS, and the second attempt on VirtualBox.
First log on the first post and second log on the second post.
I tried to install it on an old laptop and it worked at my first attempt, using the guide from the ES website.
I think that my desktop CPU is even older:
Memory: 9,3 GiB
Processor: AMD® Phenom(tm) ii x4 955 (2009)
OS type: 64-bit
Disk: 116,6 GB
It does not support SSE4.2 which I've seen mentioned here: Failed to start Machine Learning on Elasticsearch 7.0.0.
But I can't get to work older version of ES either.
See the log of version 5.2.0: https://pastebin.com/raw/8kfj4KVM.
Attempt with 6.8.1:
user@guest:~/elasticsearch-6.8.1$ cd distribution/src/bin
user@guest:~/elasticsearch-6.8.1/distribution/src/bin$ ./elasticsearch
Error: Could not find or load main class org.elasticsearch.tools.java_version_checker.JavaVersionChecker
Caused by: java.lang.ClassNotFoundException: org.elasticsearch.tools.java_version_checker.JavaVersionChecker