Cut & Paste, apart from the word "cut" in it, makes total sense. While I'm used to terminals, so I don't have any problem with the feature missing, it really should be in there. I don't think you can make any real point against it.
Call it Mark & Move if you want to. Whatever the name is, you just can't move files in one Finder window exclusively if you can't see the folder you want to move shit to, and that's not a good thing. You can't mark, then navigate, then move marked to current folder.
There's no upside to how it is now. It's not a confusing operation, it's not hard to implement, it makes sense.. It's really a missing feature.