You can reduce all Boolean logic to NAND, but that doesn't actually mean that semiconductor fabs translate their HDL to NAND gates, because it is possible to build complex gates that directly implement higher level operations in a single gate.
Your "cost of computation" objection can be easily resolved by adding more operators, which makes it boring from a research perspective.
Meanwhile the loss of expressivity can only be compensated by encoding algorithms directly into the expression tree. Your objection that an infinite series is a bad thing rings hollow, since you now introduce the concept of an infinitely sized expression tree. That sounds much more impractical than implementing an algorithm for the exponential and logarithm functions.