Talking about binary - What's the situation like today if you want to look under the hood of a webasm program? I haven't tried it myself but I guess it's a lot harder to figure out what's going on compared to even minified javascript?
If you are the original developer, there is source maps support at least in Firefox so you can step through the source code like with any normal debugger.
If you are not the original developer, most likely source maps are not available to you. Then, wasm can be studied with already existing reverse engineering tools, like IDA Pro, binary ninja or radare2/cutter. Last one is even FLOSS.
Assuming you're talking about webassembly, the binaryen toolchain includes programs that convert wasm code into its textual representation (based on S-expressions).