It's one of the reasons why hot countries often have spicy, highly flavored foods. Before refrigeration people could use poor quality meat for longer by covering up the taste, and it didn't kill them because lots of spices have anti-bacterial qualities.
But yeah, it can be masked.
You will be able to smell if food is rotting. USE BY dates aren't just about rotting though, they take into account commonly found bacteria in different food, and correct storage.
You won't be able to smell most types of food poisoning bacteria, and the risk of poisoning goes up after the use by date.
https://www.food.gov.uk/safety-hygiene/best-before-and-use-b...
For example, flies circling round meat would make most people instinctively think twice before eating it. In most environments, they will appear within a few hours of the creature dying. In your fridge, the flies won't hatch, taking away a vital signal marking the age of the food.
Not having decide if something has gone bad reduces decisions I have to make :)
Worst case it'll make you sick..
A regular meal can kill you too.