I propose to have the mod Cubic Chunks updated and added into vanilla minecraft.
This page explains pretty much everything. Note I am not involved with this and did not make this page and/or mod. I am just suggesting this be added.
Here is a link to the mod developer's forum page:
Justification and Use Case:
This would greatly enhance the game with more realistic terrain generation, and it would help reduce lag. It would also allow for builders to build much higher, and it would allow explorers to have much larger and deeper cave generation.
It would be required to update the mod and add it to the game.