I wrote a quick and dirty upgrade.sh script that sits in the parent directory of my Known site (updated now with the new composer setup). I'm using the following directory structure:

config.ini  
Uploads/
html/
upgrade.sh  

The offical Known git repository is checked out in html/. The config.ini and Uploads folder have been moved to the folder to sit alongside it.

The contents of the upgrade.sh script can be viewed as a gist on Github:

It's not elegant but it makes updating to the latest Known changes pretty seamless.