It used to take you to the Launchpad front page, but that had two problems. First, it meant the first hierarchy element was mysteriously inconsistent with the others: clicking it not only moved you up the hierarchy, but also somehow magically changed the application tab too. Second, it meant there was no way to get from any bug page to the Bugs front page, from any translation page to the Translations front page, from any question page to the Answers front page, etc. Those application front pages are moderately useful, whereas the overall front page is pretty much entirely useless if you're already using Launchpad.
So I changed it to the current behavior, and changed "Overview" to "Launchpad Home" on all app front pages to show how to get to the overall front page. Mat is the first person I know of who's complained in the past six months. :-) It would be more of a problem if Launchpad's front page was a useful dashboard that you often wanted to get back to; but I understand that the plan for doing that is to also make the application front pages application-specific dashboards, that in many cases would save you from needing to go to your global dashboard anyway.
It used to take you to the Launchpad front page, but that had two problems. First, it meant the first hierarchy element was mysteriously inconsistent with the others: clicking it not only moved you up the hierarchy, but also somehow magically changed the application tab too. Second, it meant there was no way to get from any bug page to the Bugs front page, from any translation page to the Translations front page, from any question page to the Answers front page, etc. Those application front pages are moderately useful, whereas the overall front page is pretty much entirely useless if you're already using Launchpad.
So I changed it to the current behavior, and changed "Overview" to "Launchpad Home" on all app front pages to show how to get to the overall front page. Mat is the first person I know of who's complained in the past six months. :-) It would be more of a problem if Launchpad's front page was a useful dashboard that you often wanted to get back to; but I understand that the plan for doing that is to also make the application front pages application- specific dashboards, that in many cases would save you from needing to go to your global dashboard anyway.