Know your customer. Your customer is the recruiter.
A typical recruiter spends less than a minute looking at a resume. Much less than a minute in some cases. This presentation makes it impossible for the reader to skim and get the salient point of why you might match the requirements of a particular position.
The only reason a recruiter would actually read this type of resume is if you were a referral. Otherwise, the recruiter will skip to the next resume on their stack.