For a better exploration I think when a player aim at a block (whether it’s a normal block or crafted block such as chest) it should tell the player somewhere in the screen what item/block he’s looking at.
I is a faster way to know the blocks around you when you’re digging or visiting someone’s house and see a beautiful block that you really want but don’t know it’s name, it also help the new players to get familiar with the blocks/items faster.
Finally, there should be an option to turn it off, because some people might dislike it.