I don't like to see long stretches of code within loop(). I find it much easier to follow and debug the logic if the code is put into different functions (which are called from loop()) so that each function just does one little piece of the project.
I am just the opposite - I hate having to jump all over the place trying to find some function to see what is going on. I also think all the jumping back & forth hurts performance, as every function call requires putting stuff on the stack & heap, doing, whatever the function does, putting everything back, and then restarting the code.