Why would you prefer the non-slash version? The only reason I can see a use for it is to either make the path more readable (which could be resolved perhaps with a more readable font,) or that it's designed for a touch interface. The latter which makes more sense.
The button view (not the slash view,) kind of reminds me of breadcrumbs, having recently viewed folders showed (with shortcuts) would actually be a pretty useful addition to Nautilus.
Because it is more readable visually when its separated by whitespace rather than looking like a long string. Maybe I just have different preferences to anyone else in wanting the file manager of a desktop-aimed system to be simple and understandable rather than powerful (I have a terminal for that)...
The slashes aren't the main point really. Its the confusion of not knowing whats going to happen when I click somewhere and start typing that I really disagree with strongly.
The button view (not the slash view,) kind of reminds me of breadcrumbs, having recently viewed folders showed (with shortcuts) would actually be a pretty useful addition to Nautilus.