What is expected behavior for reports after minor schema changes?

There's no column name change. What you have is the removal of a column and the addition of another column.  This sends Power Query in a tizzy, always.  (especially the removal).  It now panics and wants to absolutely re-read ALL the meta data - resulting in the dreaded "Evaluating..."  phase (that REALLY should be a t-shirt slogan!).

Hi ddelapasse 

When you update a schema by renaming columns, lineage tags may not always automatically map the new column names to existing reports, causing the error where old column names still appear. The lineage tag helps track relationships, but Power BI may require manual re-binding to ensure that reports are linked to the updated model. In embedded Power BI, the report is not automatically re-bound to the new data source after schema changes, and the API can be used to programmatically re-bind the report to the updated model. To avoid report breakage, you could alias old columns temporarily, use parameterized columns, or update visuals automatically. Ensuring reports remain intact requires re-binding or careful version management when changing schema elements like column names.