Like a hash map or an array, its text representation is merely a human-readable interface to it. I predict the capabilities of IDEs will expand, and to make their state persistent, they will begin to store IDE-specific files in your source code directory. Eventually this will morph into the source code itself being stored in binary format and opened/searched by editors.
The programming language Unity is pioneering in this domain, but they are too far ahead of their time. The transition to code-as-data will be gradual.