This has become a very real problem for me. I use a tiling window manager (i3wm) and often place two browser windows side-by-side. This reduces the available width for the address bar, especially with a few extensions in the toolbar.
I use an extension to serve a custom ‘new tab’ page, and its ‘site information’ icon takes up the entire address bar. As a result, I have about 4 pixels of room to click the address bar to enter text. That’s definitely undesirable behavior. I suppose it’s a good default for most users, but it would be very helpful to have an option to remove/hide it somehow.