Some communities actually promote that style. Particularly the terse array languages like APL or K/Q. Each file might only be half a page of code (you can do a lot with a single line of APL) so long and detailed names might not be necessary. You can look at all of Aaron Hsu's talks to get a better idea of this (particularly everything about his co-dfns compiler). He wrote thousands of pages of code to finally get to the final compiler that is a single page of code (fits on a t-shirt).
It makes no sense to me. Even in math notation where one-letter names and terse notation are the norm, you rely heavily on familiarity and convention to understand the notation.
Reading a computer program written in such terse style is like reading a textbook in a completely unfamiliar field, without a symbol glossary or explanatory text. The cognitive burden can be extreme.
I do agree that there is some value in higher information density and the ability to quickly "pattern match" on sections of code (eg. regex), but only up to a point.
