With no guarantee that the name corresponds with what it does (particularly 5 or 10 years in the future) and your parameter list doesn't have names at point of use (what does the 'true' argument do?) and may be overloaded.
Factoring things out into single-use subroutines is a real mixed bag. It's not a clear win at all, not at all.
While I don't think refactoring single use function is a win in every case, I think it makes sense when what you're trying to do in the block of code could be conceptually separated from the rest of the function - and named appropriately.
Arguments sometimes make this practice messy, especially if you find out that your detached subroutine requires 5 different arguments from its parent. But IDEs or smart editors with tooltips or goto-definition make this an almost no-brainer in most cases. Besides that, many languages allow you (or even force you in the case of Smalltalk and Objective C) to solve the argument readability problem at the language level. When it's really naked 'true', you could just use keyword arguments.
Factoring things out into single-use subroutines is a real mixed bag. It's not a clear win at all, not at all.