New World Menu Setting: "Legacy Height" = better performance

The new caves and cliffs update brings many great changes to minecraft, but a side effect of the increased height is a pretty significant impact to performance. My suggestion is a world-setting that allows players to play with the new blocks and some features of 1.18+ but with reduced world height--this has some drawbacks as it would limit or completely remove some of that generation (massive caves and everything sub-Y-0, but for older computers, it would mean being able to play newer minecraft with new blocks but without the heavy performance hit seen from doubling the number of blocks per chunk without a costly computer upgrade.

How I see this working (and the setting would be world-specific and unreversable probably?) is it would use a different generator function and chunk format the game would recognize as having a limited world height. Perhaps ore generation distribution would also be more 1.17-esque as the reduced height would require adjustments there.