Sure, but it’s still a bad default IMO, the expected behavior would be an unformatted string without any linebreaks
Also look into the text files für the public/private keys. It is always this, because the screen has only 80 characters in width.
The purpose of base64 is to turn binary into text that can be embedded in normal text messages such as email and Usenet. A right margin of about 80 characters is very much what one should expect such a tool to default to.
The primary purpose of these tools have changed over time as the environment has changed. You know nobody uses usenet anymore, and nobody copypastes base64 into emails anymore, right?