You can still call drop on it manually to release it earlier, though.
Lifetimes really have no runtime effect at all. They only exist to prove things about the program at compile time. So all the types and function signatures get assembled together, and then a constraint solver gets run over the whole thing. As long as it returns "yes a solution exists", then no ones really cares about the details of the solution. The benefit of non-lexical lifetimes is to weaken the constraints on the system, so that code that used to appear invalid now appears valid. But I believe it will have no effect on any existing code. (There's a Rust compiler reimplementation somewhere that doesn't even check lifetimes, since you can always use the standard compiler in testing.)
It depends on exactly what you mean by this.
In a nutshell, "non-lexical lifetimes" means "things go out of scope when after their last use. Drop implies a use at the end of the current lexical scope."
Dropping Drop types earlier ("eager drop") was desired, but has significant problems, including "a large body of unsafe code exists in production which relies on knowing when Drop types go out of scope and changing this behavior may cause a ton of unsoundness in existing code."
Lifetimes are a language you use to help the compiler prove that all of your references will be valid. If it's unable to prove that, it will throw up an error. That doesn't prove that your references were wrong - it just says that they _might_ be wrong, and the compiler won't allow that possibility. Non-lexical lifetimes just provide the ability to prove more refences and thus allow more code to compile - code that was already fine, but, the compiler couldn't figure out that it was fine.