It's binary because the UTF-8 standard states how each Unicode code-point (i.e. character) is to be translated into a series of bytes.
But, because each (correct) UTF-8 byte sequence can be translated back into a Unicode code-point sequence, you can see it as text also. :)
(BTW, from my knowledge, UTF-8 doesn't specify a canonical encoding of Unicode text, thus for cryptographic purposes, especially signatures, perhaps one should treat it with care.)
Part of why it's a good idea to normalize input before password hashing, as an example... It will likely become more common over time to use emoji as passphrase input.