The feature request is tagged as “valuable”, so maybe there is hope, even if there wasn’t any update for a year.
At the same time, it may not be YAML compliant which may explain their reluctance to implement this (even if some status or update concerning this FR would be nice to have).
To solve this, we could have an option to turn on or off aliases in the YAML, for those who really want aliases in their YAML, either in external (URL) or internal (wiki) links. So by toggling the option ON, we would finally have the nice formatting, and by toggling it OFF we could export to other markdown software if ever needed.
There are so many notes that require URL or Wiki links with aliases (because URL or Wiki link is either too long or require a more explicit name depending on the context where the metadata is) as metadata, that Properties feel kind of crippled without supporting this.