Some (I don't think all) Bearcats indeed did have manually folding wingtips--simply hinged to fold up and in, nothing fancy like on the F6F. They were manual for weight-saving, as was the tailhook: it would deploy (gravity) but had to be muscled back into place, and if you've ever hefted a tailhook, you'll know that's the right word.
Anyway, the outer six feet of the F8F wing was foldable, but the blow-off panels were the outer three feet. If you lost the entire fold-up part, you'd lose the entire aileron too. Not good.