Block hitboxes cause semi-transparent blocks not to render behind them in lower than "Fabulous" graphics settings

The bug
clone MC-187598
When looking at a block, the hitbox still causes semi-transparent blocks behind it (such as water, honey blocks, or stained glass) to not render, in graphics settings other than Fabulous.

This is caused by fix MC-198103
I find it more important to see the hitbox through water and other transparent blocks than seeing water and other transparent blocks through the hitbox.
I believe that transparency should be removed. If it isn't transparent, it will be possible for it to have no rendering bugs at all.