Not directly, but encourages obfuscated binary blobs, like some DRM decoders and as a new complexity also new security challenges. It is come back to Flash, ActiveX or Java Applets. See top comments: https://news.ycombinator.com/item?id=10487713
View source has always been a priority for the wasm folks, and it's supported a debuggable text-based format the whole time for this reason. It's also significantly different than Flash, ActiveX, or Java Applets.
