Seagrass, coral, and many other blocks disappear at a very short distance when the player is in water

Seagrass near the edge of your underwater vision disappears. This occurs even when your vision is set to the default distance, however, it doesn't scale with underwater vision, causing more seagrass to be missing the longer your view distance.

To Reproduce

Go to an ocean, wait for your vision to improve, and watch seagrass render in and out at the end of your vision.