Your comments

I think one could open the link, and then select the text that one would want, and use some hot-key combo to copy and paste the text into the place occupied by the link. It would not be my intention to copy everything over at all. I just would not like a 404 when accessing a link at some point in the future.

I was staggered to be told that this is not possible! What could be less useful than making a note of a page with lots of important graphics, and not being able to include them?

What is even more surprising is that the feature has not been implemented since this was added here 4 years ago.