The option:
[[project]](http: //…)
is totally viable and addresses a very good use case. Let me explain:
I copy Web Pages (relevant research papers and articles) and convert them to markdown using Typora, to save a copy on my vault. The Web Link text is then converted to a Wikilink [[ … ]] to reference other pages on the vault (research papers citations, for example). The (http://…) is not deleted or changed.
By clicking on [[project]] I can access my copy of the content on Obsidian, where I’ve added tags, written my comments and connected with other Obsidian notes.
Clicking on the second item (http://…) I am redirected to the original page on the Web. Often useful to download an updated version or to use some other functionality or other pages on the same web site.
This is not only possible but absolutely AMAZING for someone accessing and cross-referencing hundreds of research papers. This alone is well worth a subscription service payment.