I have a note called “A” with alias “tws” and another note B that links to it ("[[A|tws]]"). When I change the alias in note A, e.g. to “tws2”, the contents of note B remain unchanged and the alias in there is now stale ("[[A|tws]]").
Proposed solution
I expect Obsidian to automatically update references to aliases the same way it also updates references to filenames. The current alternative doesn’t scale as you add more and more notes.
Current workaround (optional)
When you rename the alias, you need to remember to do a manual search & replace throughout the vault.
I had responded to your post with some information that I later decided was not helpful so I removed it. I think your request is a good idea, although I had misunderstood it initially. Sorry for your confusion.
A sort of “reverse” of this issue is a problem, too. If I have a link to a note, using the primary name of the note, and then I rename that note, even if the existing linked text is an alias of that note, it updates. Which, depending on the instance, “breaks” the text in the note, such that one almost needs to just always use aliases, even if they’re identical to the note name, in case of future updates.
e.g. say I have a note, “Homeschooling.” And I’ve linked to this directly from the text of a note that says, “homeschooling has grown by 300% in America in the past two years” (That’s a made-up number, by the way; I don’t remember the actual number offhand.) That makes sense, right?
But now I update the linked note so it’s called “Homeschoolers and Homeschooling MOC,” and “homeschooling” is an alias. My already-linking-in note now says, “Homeschoolers and Homeschooling MOC has grown by…,” which is obviously not what I want.