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There is a geometric interpretation that you certainly can take seriously, but the geometry that you get is not as clean as you might have hoped. Trace distance between operator states is an example of a Banach norm on a vector space $V$. The rules for such a norm are that $||v|| > 0$ when $0 \ne v \in V$, $||\lambda v|| = |\lambda|\cdot||v||$ for $\...