I'm not entirely sure what you mean by "in-between" element, but that's not what this proposal does. This proposal simply augments the button's existing ability to navigate the current context by removing the need to wrap it in a form. This is useful because sometimes buttons are already the right semantic element to use, but you can't use them to do this without JavaScript.
Also, that link has a lot of wrong information and is not an official W3C site. It even has a LinkedIn page.[0]
Also, that link has a lot of wrong information and is not an official W3C site. It even has a LinkedIn page.[0]
[0]https://www.linkedin.com/company/thewcagcom/