Not really. Logic in Excel is based on stuff like SUMIF( ...) which is totally unreadable without lots of context about the cell or range it refers to. If someone fumbled the fill command and some cell is missing the formula? You'll never know and the result will be automatically and silently zero. References to that result will just use the zero as input. Mixed fixed/nonfixed references like A$3? Unreadable and hard to understand. References per se? Unreadable because undescriptive, maybe there will be a column or field label, maybe there won't. Also, formulas are always hidden by default, you'll just get a sea of numbers.

Calling Excel easily inspectable is laughably wrong imho. Just the opposite.