I think to get maximum innovation on anything technology related, it should always be simple enough to get started at any level, then as you gain more experience you can (and the specs allow you to now -- AS2/EDIHTTP spec for one has encryption, compression, on top of HTTP/HTTPS -
http://www.ietf.org/rfc/rfc4130) do more for performance, optimization etc otherwise it is premature optimization and a bit of a wall.
Like with gaming, each game should be simple to start but deeper to master. That is what this layer is all about, lower down the OSI stack it is much more of a wall to beginners. Never lock out beginners as they can be better masters with time, don't hide the entrance to the labyrinth. Leave things as approachable, but with better professional experience, modifiable to perform better. We have all that now, a competing binary protocol will never see the innovation that a more simple one like HTTP will. Higher up the stack you can see how this was better for exchanging data in standard ways from old school binary blobs, to CSV files, to XML files, to JSON. Same reason REST services won over SOAP, simplify... There is a JSON binary format BSON in mongo and also MessagePack but guess which one is used more in service/exchanging data the textual one or the binary ones? The binary formats work well in certain situations where both endpoints are controlled by the same entity.
Binary and more locked down/optimized formats and messaging have their place but the start/base should always focus on simplicity over optimization.
The general rule in exchanging via standards is be liberal in what you accept, conservative in what you send. Being all binary all the time is a backwards step and is conservative on what is accepted, I also think it would lead to a host of difficult to debug problems just based on work I did with AS2/HTTP RFC implementation one of them being streaming and of course encoding/decoding which can fill hours of work if you can't visually see the content at some level.