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as said, the session directory is where all new files are created or recorded; if you change the session directory, the previous files in the old directory, will remain there.

having it to move and copy files around old and new session directories, is just another can of worms waiting to be opened. :)

one and last thing, the ssion directory name has nothing to do with session names; although you can set it like so, if you wish; session directories may well be shared by two or even more session/project files (*.qtr).

one good thing about session archive/zip bundle files (.qtz) are that they are tied to specific and unique session directory when extracted/open.
that's one of the reasons you should that for relocating and/or renaming a project.

br.