I thought that's how it worked too but it is not. 1 click shows the entire url and selects it. Still without "www.". Another click will show "www.".

Regardless of how you feel about the change, it does indeed hide 'www.' to the point where a power user could easily be fooled that it was the naked domain.

Edit: Here's a demo of how it works: https://www.useloom.com/share/f7d71b95d75b4c4582bb38cdc84326...