Yeah but then it takes up an additional slot in the Dock, unnecessarily so if you already have the Launchpad in it. Besides, it wouldn’t be at the left end of the Dock where Windows users might be more used to its position from the Start menu.Had the same for years... by having the Applications Folder on the right side of the dock.
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More options are great and the Dock icon for the Launchpad feels like a pretty natural place for something like that.