No, it really shouldn't. The line that is in the documentation is correct. It's for the end user (i.e. you) to be aware of their own directory structure and substitute their own directory when reading through the instructions.
The example uses 'openwrt/', but it's just an example. The detailed instructions all refer to <buildroot> because it's open to the end user to change that if they choose to do so. If you don't then yes the directory will be openwrt, but it doesn't alter the fact that as the end user you should be substituting that into the instructions as you read them.
The instructions for the steps doesn't tell the user that it is open to them, the steps are directional for the purpose on demonstrating how to use the software, therefore, the reference to the directory in the explanation needs to be consistent with the directory in step.
The example at the top of the guide is not instructions or steps, it's an example of the 'typical' process followed in a 'typical' build set up. That's it. For some use cases you might be able to copy them verbatim and it'll work fine, for others it won't. That's why there's detailed instructions/explanations provided.
I did this exact learning curve my self for about a month ago and I am definitely not an Linux expert and I screw Linux things up from time to time.
But I don’t see how you can waist 6h on this little setup detail without figuring it out?
You really need to be able to get information from different sources and build the puzzle on your own to build images or code in general.
How are you going to handle all the other developer guide pages for the build process because they have no build order at all and you will have to search and find them yourself when you realize you got stuck.
And after the first build in the build root you need to be able to jump freely in the build setup process.
You need to hire someone first to be able to fire them
It's fair to point out where the wiki can be improved. It is not fair at all to expect a community of volunteers to have a product without rough edges. I suggest applying for a wiki account and fixing the things you think are wrong.