The primary argument here is that this is terrible design because it contradicts user expectations - it forces them to make mistakes and will result in confusion and diminished trust.
The secondary argument is that anyone who's been listening to Google for the past 5 years will know that prioritizing SEO over UX or usability is ass backwards. Google actively demotes sites that are poorly designed, so "doing SEO" to get more users to your bad site is a complete waste of time.
The best possible SEO is to make a unique valuable resource that is a joy to use.
User expectation: A home button should take the user back to the main landing page for that site or app.
User expectation: Words that appear at the top of a page, separated by slashes or angle brackets, are clickable links to the named locations.
1. Make the breadcrumbs into page headings
If he's insisting on have these words on the page, design them as headings. Even without knowing his keyword strategy, I think 'Project Management Guide" is going to work better as an h1 tag, than masquerading as part of a breadcrumb nav.
Project Management Guide
In the beginning...
2. Get rid of the misleading "Home" link.
If you really want a user to think "WTF!?" put a Home link in the top left corner of a page that links to another website.
This needs to go. Make it descriptive text link on the page, or in a secondary link area (like the top right corner).
3. Have your SEO guy brush up on the UX vs SEO debate