Currently it retains the order releases are created, which does not provide much value and hard to create the releases in the logical order. Once the features are mapped, deleting releases & recreating right order is a complete rework. The USM is not useful without this functionality. Multiple updates to releases happen (in particular when releases are scope based, not set schedule based) and USM should be reflective of that.
Thanks for the idea!
Releases on your user story map are now ordered by release date. Note that parking lot releases are added in the order they are displayed on your features board.
For the idea around managing steps, please feel free to vote on this idea so that you are kept up to date as it progresses: https://big.aha.io/ideas/A-I-7928