I agree. 'Cramped' there is more 'readable' to me. This is probably a matter of personal preference.
Ah, C layout orthodoxy at its finest: shove as much crap separated only by operators without whitespace on one line as you can. (not exactly what you said, but I'm extrapolating uncharitably)
I guess you could lampoon me as COBOL orthdoxy, liking spaces between symbols, but Lisp was good at using whitespace, rather than commas, between symbols as well.
No school I've studied or worked at teaches this style, and JS traditionally has never been written like this[1][2]. And now I see it elsewhere as well. In some Java projects, for example. Where does this come from?
There are currently no known hard facts (conclusions from studies) about which of the whitespace styles have the best readability. So let's just all stick to the most common way of doing things, shall we :)