A third way is to test a couple of concrete points on the unit circle directly and observe the pattern, rather than working with the general conjugate identity.
At \( z = i \) (so \( |z|=1 \)): \( w = \dfrac{i-1}{i+1} \). Multiplying numerator and denominator by the conjugate of the denominator, \( \dfrac{(i-1)(1-i)}{(i+1)(1-i)} = \dfrac{i - i^2 -1 + i}{1 - i^2 + i - i}= \dfrac{2i}{2} = i \), a purely imaginary number. At \( z=-i \): \( w=\dfrac{-i-1}{-i+1} \), and a similar computation also yields a purely imaginary value. These sample points are consistent with a general purely-imaginary pattern for all \(|z|=1\), \(z\ne -1\).
Sample evaluations on the unit circle confirm the purely imaginary classification.
Therefore, the correct answer is purely imaginary.
The locus of point \( z \) which satisfies:
\[ \arg\left( \frac{z - 1}{z + 1} \right) = \frac{\pi}{3} \] is: