Similarly, NEXUS files are also human-readable, but it'd be tough to discern the shape of inlined 200 node Newick trees.
When I was asking people who did actual bioinformatics (well, genomics) what some of their annoyances when working with the bioinf software were, having to do a bunch of busywork on files in-between pipeline steps (compressing/uncompressing, indexing) was one of the complaints mentioned.
I think there's a place in bioinformatics for a unified binary format which can take care of compression, indexing, and metadata. But with that list of requirements it'd have to be binary. Data analysis moved from CSVs and Excel files to Parquet, and I think there's a similar transition waiting to happen here