In postgres its very bad process to alter column length in table that first need to drop all dependencies and then alter length and then create again. Developer also need to take care of order when dropping and recreating, It should be automated to save developer time.
The absence of such a feature is not a bug - and the effort needed in order to do so doesn't seem generally worth it for a practice that is considered unwise (i.e., just use text and add constraints).
I do agree the feature would be useful - even just to more easily rebuild views that are used by other views (also considered unwise) - but finding volunteers to implement it doesn't seem likely, IMO.
