By that same token, a Volkswagen Beetle is a badly-designed boat.
XML was never designed as a data serialization format. It's a markup language. It was designed to sprinkle structure and metadata into large human-readable plaintext documents.
Likewise, JSON is a subset of a general-purpose programming language's literal notation that happened to be very fast to parse in a browser by virtue of the browser implementing that language.
Personally, I don't think s-exprs are a particularly great serialization format either. The problem is that there's no one-sized-fits-all for serialization. What we value is brevity, but basic information theory tells we can only make expressing some things more terse by making others more verbose.
When you say some format is badly-designed, all you're really saying is that it isn't optimized for the kinds of data you happen to want to serialize.