Spend a few years handling data in arcane, one-off, and proprietary file formats conceived by "brilliant" programmers with strong CS backgrounds and you might reconsider the conclusion you've come to here.

This is a presentation problem, or possibly a lack of tooling problem.

A binary format with a tool that renders it to text works the same as a text format; if the rendering is lossless, you could even consume the text format rather than the binary.

A "text" format is built to be understandable, but that's not a requirement; you could write a text format that isn't descriptive, and you'd have just as much trouble understanding what 'A' means as you would understanding what 'C0' means for a binary format.

Undocumented formats are a pain, whether they're in text or binary.