Keep in mind, your second example won't work. They would find the apostrophe and stop there. So when you ask how hard can it be - you already proved that.
I've been waiting for a feature like this for a long time, I don't think it's a failed feature, just may have been implemented badly by others or hasn't been given enough time, it should be pretty easy to do, even if it's a turn on/off in settings feature
@concretable He's trying to use it inside a text area (like the left pane where you enter a reply here), not your regular page. As such, the link itself is just text, but doesn't have "Go to web address" in its context menu - it has the various editing and spellcheck options instead.