"no link" literally means no link. It's the straightforward meaning of (an ordinary, not symbolic) "link" in Unix filesystems. They cannot cross devices.
And on disc, ".." in the root is a link to the same directory. (POSIX allows for it to be this, which is the conventional Unix behaviour, or not to exist, which is the case on some non-Unix filesystems and operating systems where conceptually there is stuff "above" the root.)
Executing "cd .." ignores what is on disc at a mount point, and traverses the mount upwards.
Remember that "filesystem" has three meanings: the on-disc format of a DASD volume, the overall tree abstraction presented by the operating system, or what is presented by an FS driver.
If you examine an unmounted filesystem however, the raw /.. directory entry points to the same place as /. directory entry.
Is this saying that if I had a removable disk mounted at /mnt/foo and issued “cd ..” in that directory, I’d remain in /mnt/foo instead of moving up to /mnt? When did this change to the current behavior?