No you are trying to overthink the situation. The Finder pointer is a pointer App,e gives yo one to tell the download togo to your preferred setting. It just straight to that set location.
What will blow your mind is aliases and sim links and trying to tell the difference.
I know full well the difference between symbolic links and aliases...I create symlinks regularly as a hack way to synchronize preferences of apps between computers via Dropbox and also to relocate the cache location of screen capture recording software (some of them temporarily record to the boot drive, even if you have set the scratch disk to an external drive, and only upon saving the screen capture file, does the app relocate the file to the specified scratch disk) as well as the cache location of cloud storage services.
I'm asking my original question because I will be downloading terabytes of uncompressed media and would like to know whether, even if I set the destination of the file to be an external volume, whether it would put any unneeded wear on the SSD boot drive. Because if it does, then (ironically, in reference to your reply), I would create a symlink of the download cache on an external HDD so it skips the SSD entirely.
I do have tools to monitor the read/write activity of specific volumes, but since the boot drive is always being written to at all times for various reasons, I'm having difficulty concluding for sure whether the write activity is because of the files I'm downloading or not.
Even if the file ultimately ends up on the external drive, it doesn't mean that the boot drive was not written to. It can be that the files are stored in 1MB chunks (for example, possibly even smaller) on the boot drive, and is transferred in 1MB segments over to the external volume as a background/system process. If this was the case, even though the cache files would be extremely small, over time, the boot drive would still have accumulated terabytes of writes over the course of terabytes being downloaded (again, unless a symlink was created - and the entire point of my question is to know whether this would be necessary).