Yeah, that's a good point. Non-lisps use keywords and punctuation for readability and to make parsing tractable, and the two reasons are often hard to separate in any single design decision.
To summarize my position: I have some sympathy for the specific argument that multi-branch 'if's are harder to read in lisp than in traditional languages[1]. But this affects any arrangement of parens, whether traditional 'cond' or arc 'if'.
