Making the rendering that different from the actual URL would be very confusing, especially if it varied from program to program or within programs. Links would look one way on websites and then have a completely different form in the url bar after clicking them.

That particular rendering choice would also have the downside of being the same for both https://www.google.com/maps/hawaii and https://google.com/www/maps/hawaii

Yeah you might have to double punctuate after the subdomain, BUT it still makes it clear what domain you are on.

https://com/google/www//maps/hawaii

And its not like the browser couldnt render it both ways, either on click or hover.