[homebrewer]

It makes it easy to distinguish null vs not null columns and other similar things, so I personally don't mind.

[jillyboel]

It's more about queries like (dummy example)

    RETURN CASE
               WHEN a = 1 THEN 1
               ELSE 2
        END;

where it insists on aligning WHEN past CASE. I think it would be perfectly reasonable to indent WHEN and ELSE 4 spaces less, for example. Similar things happen with nested conditions like (a or (b and c)) all getting pushed to the right