Both of you guys seem to have missed GP say:

"You either have to know the keyboard shortcut, or you have to go to the Go menu."

As in, yes you can go up a level, but not in the way that many expect, and/or not without switching to the keyboard. Neither of which are marks of amazing interface design... which I think is his point.

view > show path bar

Then you can go up a level, or many levels.