I don’t really think the first example is easier to read, it’s more of an illusion. A skilled reader should be able to carry the context as they read along. It is only because we occasionally work with inexperienced coders that the list style is necessary. Consider:
“The quick brown fox jumped over the lazy ass dog”
Vs
The quick brown fox
jumped over
the lazy ass dog
The second example helps a reader understand the subjects and action but it is wholly unnecessary for people who know how to read.
Consider this code (from a course I'm teaching this week):
vs: