I have had to work with large 1GB+ JSON files, and it is not fun. Amazing projects such as jsoncons for streaming JSONs, and simdjson, for parsing JSON with SIMD, exist, but as far as I know, the latter still does not support streaming and even has an open issue for files larger than 4 GiB. So you cannot have streaming for memory efficiency and SIMD-parsing for computational efficiency at the same time. You want streaming because holding the whole JSON in memory is wasteful and sometimes not even possible. JSONL tries to change the format to fix that, but now you have another format that you need to support.
I was also contemplating the mentioned formats for another project, but they are hardly usable when you need to store binary data, such as images, compressed data, or simply arbitrary data. Storing binary data as base64 strings seems wasteful. Random access into these files is also an issue, depending on the use case. Sometimes it would be a nice feature to jump over some data, but for JSON, you cannot do that without parsing everything in search of the closing bracket or quotes, accounting for escaped brackets and quotes, and nesting.