There are three ways to view clips on Desktop reels: collapsed view, frames view and storyboard view.
In collapsed view, clips/sequences are displayed as a stack of frames.

In frames view, clips/sequences are displayed as a strip of contiguous frames.

In storyboard view, each segment within your sequence is represented as a frame. Any transitions or cuts between segments are represented as dotted green lines and full yellow lines respectively.

To toggle between collapsed, frames and stroyboard view for one clip/sequence:
To toggle between collapsed, frames and stroyboard view for all clips/sequences on a reel:
To toggle between collapsed, frames and stroyboard view for all clips/sequences on the Desktop: