The new launcher handle the installation path swaping worse than the starter.exe. When I go in Build Type Options menu and Installation Directory, each time I click browse in order to swap installation that fool assume each time it's on C:/Library/Documents.
I have my installation on D:/ in very far far in shadowed paths. The starter.exe memorized the last installation used while browsing, which was really really handy for me but sadly that one no. As Steam player I'm force to browse litteraly 10 folders (9 exactly) before reach one of the differents SM installation. It's quite annoying since they are all grouped there.