There's an "edit" option as well.

As to the auto-updating bookmarks, would it resolve the issue if I made an extension to do that for you? I can see the use, honestly, and I like it. (seriously, I'm offering, and I'd probably use it myself. It'd be an interesting project. Even if it doesn't resolve the issue - we might just fundamentally disagree here, I'm OK with that.)

But why should that be part of the browser, when modern browsers allow you to do damn near anything by simply leveraging it? Why should we rely on browser makers to tell us what's possible, when we can do it ourselves, because of the changes in the past 15 years?