Earlier quoted context omitted.
The author (my colleague, and probably the most talented developer I know) isn't replacing HDF5 with a 'proprietary binary format': in fact, the transition is as simple as replacing "HDF5 group" with "folder in a filesystem", "HDF5 dataset" with "binary file on the filesystem" (ie you store each array item sequentially on disk, exactly as HDF5 or any other format will store it, which you can memmap trivially with any…
Filesystems are the worst! Try telling a customer to tar up a directory and send it to you -- things get lost so easily! Most of our customers dont even know what "tar" means. I think you are asking for trouble going with a filesystem as a storage mechanism. HDFfView is not the only viewer in town. There are several viewers. I've used HDF5 weekly for the last 5 years and so have my associates and its been wonderful.…
It's rare we ever need the whole dataset - in fact, it's really great to be able to say to the user "don't send us your 100GB dataset: just go to the "acquisition" subfolder and send me the 10MB file called "oscilloscope.dat"". With HDF5 this is difficult enough that it's almost always easier to send 99.9% of useless data (i.e. the whole file) when all you want is a single array within it.
If your users will rarely need to do this, you could just store the entire folder hierarchy in a .zip and access it using standard tools that most programming languages have. It's worth noting that the new Microsoft Office formats do exactly this - in their case, a bunch of XML files inside a .ZIP. (Rename a .docx to .zip and you'll see!).
MATLAB has moved from their own custom binary format to HDF5, which is the lesser of two evils.