To create a gallery of past emails, or simply to link to a sent email, you can use 'MORE > Share link'. But that link includes the raw merge tags and fall-back fields, which means the random user who clicks the link will see something like "Dear {{ people.first-name | default: 'Friends' }}" - which makes it unusable. Public links to sent emails should always use the fallback items and never show the raw merge tags. This would be consistent with most if not all other email platforms.