old school javascript like this have an advantage: you can ship as is, without the need to obfuscate under the excuse of performance.
if you load two hundred build dependencies and then write twenty word long variables, it might look nice for you at development, but a user trying to debug or validate code on the fly would be in a very bad position as you would have to 'minify' (i.e. obfuscate) to not have a 70mb production file.
Code like this is very readable if you know some conventions, things like `cb` being a callback pointer. Its not even close to the cryptic knowledge needed to read assembly on weird platforms, for example. And a far cry from obfuscated.