Possibly. The author mentions a few other uses under "Practicality":

> Once the novelty wears off a "practical" example would be rendering "in-game book pages" that don't look like complete gibberish, or an "accurate print preview" with real text instead of blurry placeholder pixels that don't even look close to being the glyphs scaled down.

There's also the question if "readable" means just seeing the pixels as opposed to recognizing the glyph. Some people may just consider the recognizing the edges of the glyph as enough to consider it as being read but readability is strongly related to the ability to understand the text and its meaning.

The lower case letters can mostly be read just in context. Looking at the characters here [0] 'g' is just a vertical solid rectangle and 's' is two diagonal pixels. 'W' looks more like an 'M' than the actual M letter.

[0] https://raw.githubusercontent.com/Michaelangel007/nanofont3x...