The game previously had this function, but it was removed due to it being an "Undesirable side-effect of something else" and replaced with "Logic view" (Logic view turns all the blocks in the entity transparent, so you can see and logic connections inside other blocks).
I thought it would have been nice to have this "Undesirable" function just to help out laying down large windows an such, maybe even make it toggleable so you could have it on or off without having to constantly push a key while trying to lay down blocks.
The short answer is, the devs removed this function, and have no plans for bringing it back, because it was an "Undesirable" function.
