Symlinks are bad. They break the natural semantics of a hierarchical tree-like filesystem, and turn it into a messy half-assed graph.

What happens if you move a symlink? Will it still point to the same object? That depends on whether it's relative or absolute. What if you move the directory containing it? Do you have to recursively check for the correctness of links every time you operate on a directory? Sounds unreasonable to me... What if it links to a location which isn't mounted? Whats the definition of '..'? If you cd into a linked directory and do an 'ls ..', should that list the parent of the target or the link? How would you implement that?

The point is, symlinks are a messy kluge which probably wasn't thought out very well. You can look at what Rob Pike has to say about it himself on http://cm.bell-labs.com/sys/doc/lexnames.html