While any LabView code I've ever seen (admittedly not much) looked like a horrible mess to me, I disagree with your view on graphical programming languages.
I've done a reasonable amount of programming in Max/MSP and while, again, most code I've seen online was a horrible mess, I attribute that to the fact that these languages usually target non-programmer audiences who, sadly, don't get taught about proper encapsulation, abstraction, naming conventions (ie use actually descriptive names!) and software patterns.
My own code read (to me - though others have commented on it too) almost like something you'd write on a whiteboard to show how the software works to non programmers. I encapsulated each chunk of code that does a single task into its own component, so an individual component (ie diagram) never had more than a few high level "things" connected together, so you can tell - at a glance - what does what. Of course, this means that there are many layers of components, from very high level all the way down to low level, but the point is that with proper encapsulation, visual languages are no harder to understand, read or manage than textual ones and I personally feel that, in many ways, they're actually easier.
I also found debugging Max/MSP code to be the best debugging experience that I've ever had, due to the fact that you can visually see where data comes from and flows and you can intercept it at any point to see whats happening.
I also found Max/MSP a dream to do experiment-driven-development and code design and far superior to using the Python and Clojure (the two languages I use most at the moment) REPL's. I think one of the reasons is that while I'm still experimenting with concepts and design/algorithm ideas, I do not need to name things, I can just lay down a few components, connect them and see what happens. In textual languages, everything needs a name, so often you end up with a, b, x etc. I should point out, though, that when I design software (architecture or algorithms), I do it with boxes and lines, so graphical languages may just be a good fit for how I think and I guess not everybody is like that.
Don't even think of keeping things tidy, wires will be everywhere, and the auto-arranger doesn't work well.
With proper software engineering practices, this is not an issue. Without proper software engineering practices, we have the same issues in textual languages.
Modern Tools
This is a very good and important point, but its not inherently a graphical language problem. Things like version control and diffs - sure. They just work in textual languages, but in general, all languages start off with tooling problems. I do believe that good diff tools could be developed for graphical languages and that they would be at least as good as for textual languages and writing a git-compatible file format is obviously possible too (in fact, Max/MSP files look a tiny bit like JSON IIRC). This of course doesn't change the reality that currently there definitely is a tooling problem, so you are very right! But it need not always be that way.
My only complaint about Max/MSP is that I'm one of those people who hates the mouse... I spend most of my days in a keyboard-centric window manager using vim and a keyboard centric web browser, so graphical languages aren't exactly ideal from that point of view.