Meaning, parse word by word until you hit a key word or a significant character (,:". etc). You can't have "varb function(arg)" or its equivalent in any language I know, because it doesn't make sense - there's no operation on the varb, it's just "there". Similarly, "x y z = q r t" is unambiguous, because there's no stop to parsing either "x y z" or "q r t".
I think I'd like it. Hitting shift all the time, or reaching for "_" is a PITA and significantly slows my typing. It's especially annoying when you realize that identifiers with blanks could be leveraged into most languages with almost zero change to the parser, as long as it requires an end-of-statement terminator or ends on newlines.