Yes!, absolutely!; I can even throw in a story for you to explain why it is important that a human can easily read the auto generated code...
I once got the opportunity to work on a new project. Now, one of the first things you need to do when you start writing code is to create some sort of connection and data representation to and from the database. But instead of just writing this code by hand, we had someone who had developed his own code generator to automatically build base classes from a database schema. It was really neat, the tedious job of writing all this code was now out of our hands... The only problem was, the generated code was far from readable for a normal human.
Of course we didn't about that, because hey, it just saved us a lot of work.
But after a while things started to go wrong, data was incorrectly read from the user input (or so we thought), corruptions occurred inside the database while we where only reading. Strange.. because reading doesn't change any data (again, so we thought)...
Like any good developer we started to question our own code, but after days of searching.. even rewriting code, we could not find anything... and then it dawned on us, the auto generated code was broken!
So now an even bigger task awaited us, checking auto generated code that no sane person could understand in a reasonable amount of time... I'm talking about non indented, really bad style code with unpronounceable variable and function names... It turned out that it would even be faster to rewrite the code ourselves, instead of trying to figure out how the code actually worked.
Eventually the developer who wrote the code generator remade it later on, so it now produces readable code, in case something went wrong like before.
Here is a link I just found about the topic at hand; I was acctually looking for a link to one of the chapters from the "pragmatic programmer" book to point out why we looked in our code first.