You do realize those settings are merely templates. You can literally customize EVERYTHING in settings. I don't particularly enjoy any of the pre-set settings, and thats ok. Its why you can customize everything.

Thats a long standing bug thats been around for multiple versions.

Do you think they'll try to fix it back to how it was if that xray thing is fixed or if it will be reworked fully?

All we know (if I've understood correctly) is that there were problems in multiplayer concerning players being able to see eachother through walls by way of the mouseover/aim/cutaway feature.  Their remedy was to remove that feature and leave us with only the passive proximity based building cutaway.  One of my speculations was that maybe the problem has to do with the way the game handles visibility through openings but I really don't know.  I believe they did substantial reworking of the viewcone in B42 so it's rational to suspect there are some fundamental problems causing all of these loosely related visibility issues.

But how would the cutout system be affected if they were doing other things? Were they trying to enhance the system or something but it broke?