It may well be. That's one way of looking at it. Light is what enfolds all the universe as well. For example, if you're looking at this room, the whole room is enfolded into light which enters the pupil of your eye and unfolds into the image and into your brain. At least as far as physics is concerned.
Light is energy, of course.
It's the potential of everything. Yes, I think that to understand light we'll have to understand the structure underlying time and space more deeply. One view says that light also moves from one place to another through a series of positions, and the other view says it doesn't do that at all. By this he meant to tell us that our universe is a hologram, but he lacked the term. According to our current understanding of physics, every region of space is awash with different kinds of fields composed of waves of varying lengths.