Minification is especially not sufficient for obfuscation in a world with pretty printers embedded into every Dev Tools in every browser.
Minification is just about reducing the size of the output. Any business that truly cares about the safety of their IP should look into "proper" obfuscators.
(Personally, I don't think obfuscators are generally worth the build time and their output worth the extra bandwidth either, but yes there I understand that security theater generally beats performance concerns.)
And it obstructs people who are going out of their way to improve their usage of your site. It's a pity we only see the risk in that, that the miserly antagonistic corporate dominion attitude rules, that is afraid, that quakes at users doing things not on the l blessed path.
This attitude you've very well spoken for bespeaks a great rot & sadness in the world, one that developers should actively try to work against as much as they can.
With compression, I think there's more harm & pain caused by obscuring the source-code to users than there is gain in the very small reduction in size.
But this stance gets quite a reaction, from what I've seen, and I wanted to give a lot more rope to the person I was replying to, rather than try to argue this (fairly nor popular) point too. Which is to say, I hugely agree with you, and good-riddance to industrial web practiced that hurt user-agency (somewhat remediable with source-maps but seemingly few sites have source maps on in prod, and still not as pleasant). It's a small user-base, the view-source folk, but embracing those who take the drive to make the world better (or even to just poke-around-and-learn) is what the world needs!