We have a new feature that's just entered the first round of testing, we call it "Bounding Solid". Effectively, it does exactly what you're looking to do, but with far fewer clicks than what PowerShape took in your video. There are a few small bugs to work out of it, which is why we haven't released the tool yet to the Insiders (although it's starting to be in really good shape).
Beyond that, it looks like your only option is to make a sketch, extrude it and work with that.
Can you show a preview what could do that bounding body?
I think I found an event faster way to create a boundary box base in what you did.
Project
Then rectangular line, but overlap each point to find intersection. It worked at home
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