[[{{#ifexist:Category:Ifexist baz bar|Category:Ifexist baz bar}}]]
That is the test case. Currently, it puts an entry in pagelinks and in categorylinks.
However, having an entry in pagelinks for a link that isn't clickable is unintuitive and confusing (in API results, etc.).
A new column to flag non-clickable links that have a pagelinks entry is a possible solution.
Version: unspecified
Severity: enhancement
See Also:
https://bugzilla.wikimedia.org/show_bug.cgi?id=12019