And no other approach to development does this. Uh-huh.
As for readable I would say that less than 1% of the code I've had to read in my 33 years was legible. In fact it seems like most developers either expend zero effort in this direction or make a point of visually obfuscating their code. There is no vertical alignment, whitespace is either near-absent or inverted from prose.
As you noted, FP is not new and its startelessness was incidental and trivially inevitable. That's for reentrance.