That's precisely the point. The whole philosophy of APL is that it's not supposed to be obvious to anyone who doesn't (yet) know it. However, seeing as the character set is still Latin, it's not hard to guess at what it does even if you don't know the language.
- I don't see 'vs' in the snippet, but would guess V stands for Vector.
- Even in all but the most anal "standard style guides", single-character names are normal for temporary/limited-scope variable names.
- You could likewise ask why Chinese words aren't separated by spaces, or why English words need to be. It's a different language with its own grammar and style.
I don't know APL either, but at least I make an effort to see their perspective on the language, because it is clear that there are people who are highly proficient at working with code like this. (Likewise, I would guess that experienced APL'ers probably find more "traditional" languages like C, Java, Python, etc. "unreadably" verbose.)