Searching in the bug reports didn’t wield any matches, which is what I did before submitting the report. However, widening the scope to feature requests did locate this past bug report that got moved by you to be a feature request.
This is clearly a bug, however, and not a missing feature. Not only is the behavior of following a link inconsistent between the “Editing” and “Reading” views, but clicking the link on the former has the completely unexpected, not to mention unwanted, side effect of creating a note with the title [.