No, I don't want to see random strangers butt cracks. But I like my tops short and my waistband low. I don't however like having my underwear on display. So if the knickers are made lower so that you can't see them over the waistband then that would be nice.
I don't see how those can work together. Either you see people's backsides, or they have a shirt that goes down to the waist, or a waist that goes up to the shirt.