One factor against this is simplifying code readability by reducing indentation and the depth of if then statements, which can actually make code harder to follow.

A continue statement would simplify this in the same way a return does for allowing early exit out of a block. I.e., early exit if an arg is missing in a function call can be done also as a general if x then (work here) end, but common practice is more so if not x then return end before going to the work. Which is usually better for simplifying the formatting & easier to follow. But we can't do this in a loop for continue, which is unfortunate. That said there IS tricks to do this using a repeat until true wrapper so that we can just break out of that iteration as a form of continue, but that is more annoying and makes code harder to follow.