By all means, make sure the steerer extends well past the clamp slot relief hole as a minimum, and preferably at least half way up the intersection of the horizontal extension tube. I think there would be some levearage stress otherwise, that could lead to cracks.
I've cracked the clamp on a two-bolt threadless stem where the steerer didn't extend far enough past the lower bolt. Slightly different situation... but similar.
Don't forget that you'd need a long pre-tension cap bolt to reach the star nut. Don't cheap out on the grade of that, or it could shear.
Agree on the threaded wish.
https://global.bluelug.com/nitto-mcr65-stem-silver.html
If you don't need the removable faceplate and 31.8, Riv has a similar one. I have one and think it's great:
https://www.rivbike.com/collections/stems/products/nitto-hiriser-25-4-1-1-8-threadless-stem-16252
Then again, the current crop of faux LD stems often have only one clamp bolt. I wonder if they come with instructions that say anything about minimum insertion:
Don't forget that you'd need a long pre-tension cap bolt to reach the star nut. Don't cheap out on the grade of that, or it could shear.