The text provides a guide on using Bit's link-target feature to efficiently manage component updates in a consuming application without the need for repetitive tagging and exporting. By running `bit watch` in the component workspace and linking it to the consuming project using symlinks, developers can ensure real-time updates of components. Bit automates the process by managing dependency graphs and peer dependencies, which are crucial for the symlinking process. The text also highlights the importance of clearing the bundler cache and provides troubleshooting tips for issues such as unintended reversion of symlinks due to package installations. Additionally, it suggests creating scripts for automatic re-synchronization of symlinks and emphasizes the ease of reverting the project to its original state by reinstalling dependencies.