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Lol I was about to edit and delete what I said about levers ....
Yep, the the end of the longer lever "articulates" the shorter lever Like a hinge.
I think your confusion comes from thinking of the objective as a window that you look through, when in fact it behaves like a pinhole and as said by Andrew above, the real window is the field stop of the eyepiece. How much sky you see depends how far the eyepiece field stop is from this "pinhole".
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