A URL is not a LINK, a URL type is ONLY the url no extra text.
Using a URL type is just repeating the url value in the href and in the content without a text content; of the anchor tag etc.
Test types {% if RESOURCE.metafield.custom.namespace.type == "url_reference" %}....{%else %}...{% endif %}
Or use fallbacks in case of no .text {{ RESOURCE.metafield.custom.namespace.value.text| default: RESOURCE.metafield.custom.namespace }}
But it is silly that link or 'link_reference` type ?? hasn’t made into that liquid doc they might be waiting for better theme editor support as a direct setting or maybe something with RTE formatting /shurg
Link is also still MIA for settings https://shopify.dev/docs/storefronts/themes/architecture/settings/input-settings
There is a feedback Was this page helpful? Yes No at the bottom of each .dev doc page.
But if missing across surfaces might want to post on the .dev forum.
⛏️🏺🔎⚱️
There should be stuff about this in the partner slack (soon to disappear Dec 15th), though I swore there was something about this on the .dev forum already but I can’t find it /shrug