"Is this the real Quaid, or the memory of him?" Phase 3 adds the compositional graph primitive: a post can embed another post, inline, as a first-class content block. Keep this distinct from the Assertion primitive (Phase 4): a post-embed is composition — it renders another post inside this one; an Assertion is a relational/temporal fact that doesn't render. One shows a memory; the other states one. Do not fold them together.
The load-bearing rule: storage is the graph; a render is a frozen view. An embed is a live view of the target — not a copy — so the two posts never diverge. This is the exact anti-pattern to merge-into-markdown, expressed as a block. And, fittingly, it is the very primitive this whole cluster leans on: every phase post folds the master in with one — including the block a little further down this page.