[New Xray Glitch] (Please Fix)

Works as intended. This is to limit the amount of blocks rendered, which removes a huge amount of lag.

i hardly find it being "works as intended" when you can clearly see chests from under it.

OK, you can see chests from under it. We get it.
Whether or not the players want to abuse it, it's their call.
If this will be fixed, trust me, your game would probably instantly crash when you'll open any world. You can even try to do it yourself. Open the cube.json model, and remove all the "cullface" tags.