Multi-Site Subdomain

I went into CPANEL…
Add Subdomain…
Named Subdomain: *
It created a wildcard setup…
Went into my main WordPress Sites Dashboard…
Create site…
Name it : subdomain
It created…
Edit it…
Change the domain to subdomain.domain.com
It now points correctly…
HOWEVER…
It points to an empty folder?!
Am I supposed to place a copy of WordPress in that folder and do an install of WordPress to that folder now? I thought the Multisite would setup WordPress IN THAT Subdomain…?!
Help!