When a page is renamed today, all references to it are updated as you would expect. However, there’s no way to do the same for page aliases. For example, if i have an alias with a typo and want to correct it along with all of its references, i have to add a new corrected alias, manually update each instance of the incorrect alias, and then remove the mispelled/incorrect alias from the page.
If aliases could be renamed along with their references then it would also be fairly straightforward to use this functionality to consolidate consolidate aliases.
Im not sure how the UI would support something like this since the aliases are just page properties. Perhaps it could be in the “…” dropdown menu beside “delete page”. IIRC this was where “rename page” used to be, so maybe it would make sense to have a “Rename Alias” dialog? Or, perhaps a right click on the alias could pop a context menu with the option?