Link Shell Extension, http://schinagl.priv.at/nt/hardlinkshellext/hardlinkshellext.html , is a great tool for creating and viewing many kinds of links. It also has excellent documentation.
[When fully installed, adds a new properties tab if you are viewing an extended link. In addition, overlay arrows are added for various types of links - scroll to the frequently asked questions section if they are not displayed; Windows only supports thirteen overlays; It shows how to bypass the registry. An example of its informational usefulness: it unsuccessfully tries to obtain privileges for what you considered a folder, but in fact it is a Junction Link system link, often used for compatibility with older versions of Windows.]
Links and symbolic links act essentially identically when created for a directory on the local system.
However:
They act differently on the network. This link describes this behavior: https://superuser.com/questions/343074/directory-junction-vs-directory-symbolic-link
If you think that Junction Links are "shortcuts that trick the OS into location," you will have a good practical comparison of their use and what violates them. The main difference is that if you copy symbolic links or transitions, it copies the target, rather (for example, shortcuts), only a file containing a pointer. As with shortcuts, you can delete symbolic or junction links without deleting target files / folders. [Hard Links, the file is deleted only with the removal of the last link, including from the trash. Look at the property tag in the LSE for any of these links to see the target or link counter for hard links.]
Hard links or shortcuts are the only types of links that can be moved without side effects, such as breaking or copying the entire target. Moving a target always breaks links, although they can be easily updated on the properties tab (shown with LSE) or re-created, if difficult, with LSE.
Symbolic links require administrator privileges, while Junctions do not. This plus Junior's extensive internal use of the OS suggests that Windows handles them in an intuitive, expected way. [Be careful with unexpected side effects from system folders (from experience with Win 10).]
[Some of the features of Link Shell Extension backups are extremely useful - in short, it can create several types of updatable symbolic link structures in standard folders for pending backup purposes.]