The problem of uglify can be mitigated if someone invented a binary format for JS that was interchangeable with the current text format. The format would reduce the code's size, while keeping it readable (you'd just have to run it through a binary-to-text decompressor).
I should also say that you can read uglified/obfuscated code. It just takes more patience. Example: if PS was written in JS and then obfuscated, how hard do you think it would be to find out how their color transformation algorithms are implemented?
You can't say the same thing for asm.js code though.