I always liked this (slightly paraphrased) quote:
Idiomatic Factor does not (explicitly) use the stack.
That is to say, in Factor, a popular concatenative language, you tend to use higher order functions and high level combinators instead of manually shuffling stuff around on the stack. Sure, from time to time you still need to move stuff into the right place, but its easy to keep track of the stack if you only need to consider two or three items. At least, that seems to be the theory - I have not used Factor in a number of years so don't know how well that holds up in practice.
Also, Factor does allow you to use local (named) variables and infix syntax when it makes more sense to do so. Concatenative languages do not need to be unreadable at all and for some things I think the concatenative code is actually more naturally readable.
"If c consumes two arguments, in applicative terms it would be d(c(b, a)); if b consumes one argument and c only one, then it would be d(c(b(a))); if d consumes two arguments, b one, and c none, then it would be d(c, b(a))."
'a b c d' in a concatenative language is akin to 'a | b | c | d' in a shell script (where a stack is being threaded from function to function) or 'd(c(b(a(STACK))))' in most languages where each function has a type 'Stack func (Stack s)'. It doesn't change depending on how many arguments a function takes off the stack - its always 'd(c(b(a(STACK))))'. Of course, since literals are essentially functions which push their value onto the stack, what you say is true if a, b and c are literals. I don't find this nearly as confusing as what it sounds like from your comment.
In code like '1 2 + print', all the words you see are functions. 1 pushes the value of 1 onto the stack and so on. This is interesting because you can easily factor out any part by replacing it with a new word that calls the replaced word:
:A 1 2 + print
:add2 2 + ;
:B a add2 print
A and B are the exact same.
This is also interesting: http://concatenative.org/wiki/view/Concatenative%20language