I think from the consortium's point of view it boils down to whether it makes sense to consider the link symbol separately from the text that makes up the link.

I think from the consortium's point of view it boils down to whether it makes sense to consider the link symbol separately from the text that makes up the link. They apparently decided it did not, but you could disagree. Of course, it does not really matter if you disagree, because they won't change their mind (unless you repropose it in a way that makes a different argument from the original proposal, which their rejection is basically saying could be considered).