Every output bit m of microcode can be equivalently expressed as a logic function of n inputs where the microcode has n incoming address lines. This no less transparent than pure logic if you know the contents of the microcode. Microcode is often preferred because changing it is much easier than changing a bunch of gate logic. IMHO factoring your design into registers vs. control signals and putting the control signals into microcode makes the design more transparent than having a giant sea of gates.
Now do it the other way round and make the 8 bit cpus become a 2nd year EE student.
Not to say that this is easy, but I think you'd find that a whole lot more people are doing this kind of thing than you might think.