When an image in inside a link box, it would be nice in content mode to be able to replace the image and edit the link, whereas it is only possible to edit the link. There is no way to select the image element that is inside the link.
might be wrong but I think the content is basically to edit textual content ( allowing the developer to focus on building out the UI with dummy content then the client can edit the text
I've actually found a good solution to this The problem is when the image is inside the link, you can only edit the setting for the link in content mode as per first image However if it's set up as a content block and the image inside link is added from a template, you can use the selector on the left to select the image and link separately as per 2nd image