After the changes to prevent alias spam, the alias settings now look like this:

With local aliases expanded:

The view is a bit confusing, as the alternative aliases don't add any aliases, it is just a curated list (by the moderators) of already existing aliases (as local aliases on the different homeservers participating in the room), the UX and copy currently doesn't really make this fact clear. Maybe the layout can be improved as well (like the add button being quite disconnected from the input field).