Turns out that `C-u M-x magit-status` will prompt you for the path! I've been navigating to project roots all this time, pointlessly...
miniblog.
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Really cute video demo of the hypertext documentation in Symbolics Lisp Machines: https://youtu.be/7DxYj32cvoE
The speaker carefully explains why links are a good thing! It also lists history in a pane (rather than a back button) and has a stronger notion of navigating hierarchies.
Emacs command of the day: pop-global-mark, bound to C-x C-SPC. Perfect for navigating backwards (previous positions in previous buffers).