diff --git a/AGENTS.md b/AGENTS.md
index e762ced..c505a91 100644
--- a/AGENTS.md
+++ b/AGENTS.md
@@ -429,6 +429,13 @@ and the instance it yields, and ask for the rule. The maintainer answers the rul
 here, and the instance follows from it in the chunk. A rule that keeps collecting instances is
 wrong: rewrite it rather than append to it.
 
+Which output the audience expects — README goal 5 — is settled by a reader panel rather than
+asked: three fresh-context readers, one per README persona the conversion serves, each given only
+`## Audience` and the input, writing what they expect before picking among outputs the goals
+allow, rendered, shuffled, with no rationale and nothing saying what is implemented. Three agreeing
+settle it; otherwise four more read, five of seven settle it, and less is a missing goal, asked.
+The verdict lands in the item it settles (the maintainer, 2026-09-25).
+
 ### Rules the loop has settled (the maintainer, 2026-09-18)
 
 - A finding inside the chunk's item is fixed in the chunk. Outside it, a new `todo.md` item, always
diff --git a/README.md b/README.md
index 17737ee..d654dc7 100644
--- a/README.md
+++ b/README.md
@@ -23,8 +23,8 @@ represent.
 
 In priority order.
 
-1. **Lossless first.** The round-trip holds for every document, node types this version does not
-   know included; one that has no spelling is refused and says where, never silently reduced.
+1. **Lossless first.** The round-trip holds for every document the lossless pair converts, node
+   types this version does not know included; one that has no spelling is refused and says where, never silently reduced.
    Every goal below gives way to this one.
 2. **Three formats, ADF the hub.** ADF, one markdown flavour, one HTML dialect, markdown↔HTML
    composing through ADF — four conversions to keep correct, never a fifth, and never a fourth
@@ -34,9 +34,13 @@ In priority order.
    escapable, so the flavour is opt-in.
 4. **Output a person can edit.** A node CommonMark can spell gets that spelling; the directive
    form carries only what CommonMark cannot hold.
-5. **Failures are values.** Nothing throws, and `code` is a closed list — as much a contract as
+5. **Lossy conversion keeps the content.** `adfToPlainMarkdown` and `plainMarkdownToAdf` drop what
+   plain markdown cannot hold — format, design, structure — never content: what a reader of the
+   rendered document sees or follows, its text, images and link targets. What is dropped goes the
+   way the audience expects.
+6. **Failures are values.** Nothing throws, and `code` is a closed list — as much a contract as
    the emitted formats are.
-6. **Nothing in the way.** No runtime dependencies, no I/O, no configuration, no host API: ESM on
+7. **Nothing in the way.** No runtime dependencies, no I/O, no configuration, no host API: ESM on
    any ES2022 engine, in a browser as readily as on a server.
 
 ## Audience
diff --git a/todo.md b/todo.md
index 388410d..244987c 100644
--- a/todo.md
+++ b/todo.md
@@ -213,16 +213,23 @@ chunk clearing a §11 seam.
         spelling, attributes dropped.
       - `mention` and `status` become their text, the mention's `@` kept; `emoji` its text or else its
         `shortName`; `date` its ISO date in UTC (`2026-09-13`); `inlineCard`, `blockCard` and
-        `embedCard` a link to their `url`, dropped when they carry only `data`; a `mediaSingle`
-        holding an external image stays `![alt](url)`; `media`, `mediaGroup` and `mediaInline` their
-        `alt` text or nothing; `caption` its text as a paragraph; `extension`, `inlineExtension` and
-        `syncBlock` their `text` attribute or nothing; `placeholder` nothing; a node no row names, or
-        one standing where no spelling holds it, its blocks or its text.
+        `embedCard` a link to their `url`, or to their `data`'s `url` named by its `name` — the name
+        alone without a `url`; an external image, wherever it stands, `![alt](url)`; `media`,
+        `mediaGroup` and `mediaInline` holding a stored file their `alt` text; `caption` its text as
+        a paragraph; `extension` and `inlineExtension` their `text` attribute; `placeholder` nothing,
+        its text being the editor's prompt rather than the document's; a node no row names, or one
+        standing where no spelling holds it, its blocks or its text.
+      - Content the document only references — a stored file with no `alt`, an extension with no
+        `text`, a `syncBlock`, a card with neither `url` nor `data` naming one — leaves MARKER.
       - A table stays a pipe table: the first row becomes the header, a cell's blocks join on one line
-        with spaces, and spans and the cells they cover drop.
+        with spaces, and a span keeps its cell under its header by empty cells in the columns and
+        rows it covered, padding at most to the table's cell count.
+      - A list stays a list: where CommonMark cannot hold a block inside an item, what gives way is
+        what a reader does not see — the spaces of a whitespace-only code line, a rule's spelling.
       - `code`, `em`, `link`, `strike` and `strong` stay and every other mark drops, keeping its text —
-        `subsup` too, since `~2~` is a strike on GitHub; a link no CommonMark escape writes becomes its
-        text, and a mark run CommonMark's flanking or matching cannot spell drops its mark.
+        `subsup` too, since `~2~` is a strike on GitHub; a link no CommonMark escape writes has its
+        `href` percent-encoded until one does, and a mark run CommonMark's flanking or matching cannot
+        spell drops its mark.
       - A newline in text becomes a hard break and edge whitespace is trimmed; carriage returns and
         null characters are removed; a paragraph line opening with a code span whose backticks would
         read as a fence loses the code mark; an empty paragraph drops, and adjacent lists of one type