$showHomeLink is actually specifically for the element in the breadcrumb.
We always have something that we consider the home page. It can be set in 3 different ways, but effectively the first element in the breadcrumb is the home page. I don't see a great deal of value in removing the link.
In theory, changing the term to be dynamic might work, but I don't think that various values there are actually as clear in meaning as "Home".
As such, I'm not planning on changing anything here. If you wish, you can manually edit the link of course.