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DROP VIEW IF EXISTS failure
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It would seem that in your uses case, you will need to know before actually starting the procedure if the view exists, and take different paths based on this, if only that if the view existed, you will need to recreate it, but if it didn't, you don't want to create it. (And you may even need to pull the definition so you can recreate it back to its original state, maybe modified as needed), or are you going to do a blind CREATE VIEW IF NOT EXIST (and NOW you want the  'NOT EXIST' to detect that the table does exist), and trust that you apriori know the definition of the view in full detail? 

This sort of operation is almost certainly going to be in a program-driven operation, so the code can do the tests and determine the path to take. This is a much different case than this option was built for, to allow the creation of a simple script that can be run through a command-line tool to create/re-create a given environment.