The cost of using a textual format is that floats become so slow to parse, that it’s a factor of over 14 times slower than parsing a normal integer. Even with the fastest simd algos we have right now.
if you data is lots and lots of arrays of floats, this is likely not the format for you. Use float arrays.
Also note it stores decimal in a very compact encoding (two varints for base and power of 10)
That said, while this is a text format, it is also technically binary safe and could be extended with a new type tag to contain binary data if desired.
and with little data (i.e. <10Mb), this matters much less than accessibility and easy understanding of the data using a simple text editor or jq in the terminal + some filters.
So it depends. Float parsing performance is only a problem if you parse many floats, and lazy access might reduce work significantly (or add overhead: it depends).