Arguing that phenomenological analysis of the world, both in treatments Husserl himself published and in subsequent studies about it, have only been on a preliminary level, the article first explains the systematic exigency for a more self-critical second look It then lays out one such critical second-look at and reinterpretation of the world as was in fact done in Husserl's own last years by Eugen Fink. The centerpiece of this reinterpretation is the displacement of a subject-object orientation to one that views the structure of horizonality in its own terms, rather than as a function of thematic act-intentionality. What results is a more radical understanding both of the world and of the "subject" conscious of it, thus providing a more critically legitimate base for establishing the proper sense of the transcendental.