Being a programmer, or even using good tools, such as search and replace within files (via a file manager or otherwise), its incredibly easy to mass edit one location to another, I even recently did this again, yesterday, also, when you open the workspace file that you moved, it'll ask you where each project file is, and you can just keep clicking the same new folder each time, even with 20 projects it doesn't take but 1 or 2 minutes.
I agree the feature is useful, but its not hard to get around it. Be creative!