Explicitly setting sequence next value, removes ownership of table of a serial

I noticed something which might be intentional, but seems odd.

If I do something like:

CREATE TABLE test(id serial, name text);

And then I use the pgAdmin UI to edit the current value of the sequence.
I notice it does this:

ALTER SEQUENCE IF EXISTS public.test_id_seq OWNED BY NONE;
SELECT setval('public.test_id_seq', 2, true);

So then dropping the table, will not drop the sequence.

If I create a table with the generated syntax:

CREATE TABLE test(id integer GENERATED BY DEFAULT AS IDENTITY, name text);

Then go edit, it doesn't try to drop the ownership, just does this

SELECT setval('public.test_id_seq', 2, true);

Is there a reason why pgAdmin drops the ownership?

Thanks,
Regina