I do not buy this argument.
Its called a documented function.
The developers know the function's inputs and outputs and what it does.
That's all they should need to know.
Its no different to functions in the libraries of whatever programming language you are using.
Devs just do their coding based off the function signature and docs. They know what goes in, what comes out and what the function does.
How many developers do you know who've gone back and read the source code of the function ? Assuming its open-source anyway and not a OS API.
And of course devs read the content of functions they call. Unless it's a well written library used by many different people, odds are the function isn't documented well enough and has quirks that force you to understand in more detail how it works. This is not external library code, it's still part of your application.
Even worse !
Don't get me started on people who treat databases like a black-box dumping ground and insist they must have "portable schemas".