If that's really their justification, then I wish they would take the approach that Firefox does - show the full URL but have the domain name in white and the rest of the URL in a muted color. It provides the full information as well as highlighting the most important info for spotting a phishing scheme.
I didn't notice Firefox does this before your comment. On my screen the domain is black and the rest of it is gray. Maybe it's because I don't have any kind of night mode thing on. I'm sure the colors would be inverted with that enabled.
