Front Page is the only template that will unilaterally resolve to the site homepage regardless of:

1. Which other templates exist.
2. Whether the homepage is set to display latest posts or a static page.

We can do better, and at least show a link to Reading settings, there. I.e. to /options-reading.php. Mockup:

If additional tools turn out to be needed, this could be a good place to surface homepage settings in the site editor. Mockup:

When set to display latest posts, settings relating to the blog (e.g. posts per page) can be surfaced.

When displaying a static page, the user should be able to choose which page content (page_on_front) to pull in, and which page should serve as the posts page (page_for_posts).

Tasks

1. Add a hyperlink to "Reading settings".
2. If additional features are needed, add additional options.