The path in the editor is just for reference, most of the time users do not even bother looking at it and those that do use if to see what html tag there are in.
Example:
<p>
This is just a sample paragraph
</p>
<span>
This is just a sample span
</span>
<blockquote>
This is just a simple blockquote
</blockquote>
If i was in the blockquote tags the path would be PATH: blockquote or in the span PATH: span. All in all the feature is use full to most and use less to some OR use full to beginners and use less to advance
Just a side note it does not have anything to do with the path of your site that is the line below the title field