Ah, so basically:
the logs won't be readable with regular unix tools
the on-disk format will be binary and won't be documented
there won't be any third-party tools to process the data
the daemon won't be portable
OBVIOUSLY¸ no sane sysadmin could even imagine a situation where this would cause any problems. Especially when trying to analyse logs from, lemme think, a minimal rescue boot image on a host where the filesystem has been damaged in some way.