@larowlan posted a simplified patch for #1801268: Change link field 'title' field to 'link text' but this leaves a few unresolved issues that should be fixed. Variables should be renamed, renderable link arrays need to be fixed, upgrade paths addressed, etc.
As @falcon03 says 'I still think that having "link text" assigned to a $title or $link_title variable is really confusing from a novice developer point of view.'
So if we can reduce the confusion in D8, great!