I have some experience working at a genomics research company and I'll broadly +1 Fred's experience about the industry, although in less negative terms. I got out before I got jaded, so my perspective is a bit more "oh, that's a shame" than his. I really like genetics, bioinformatics, hardware, deep-science, and all that but the timing and fit wasn't right.
The tools are written by (in my experience) very smart bioinformaticians who aren't taught much computer science in school (you get a smattering, but mostly it's biology, math, chemistry, etc.). Ex:
http://catalog.njit.edu/undergraduate/programs/bioinformatic...
http://www.bme.ucsc.edu/bioinformatics/curriculum#LowerDivis...
http://advanced.jhu.edu/academic/biotechnology/ms-in-bioinfo...
The tools themselves are written by smart non-programmers (a very dangerous combination) and so you get all sorts of unusual conventions that make sense only to the author or organization that wrote it, anti-patterns that would make a career programmer cringe, and a design that looks good to no one and is barely useable.
Then, as he said, they get grants to spend millions of dollars on giant clusters of computers to manage the data that is stored and queried in a really inefficient way.
There's really no incentive to make better software because that's not how the industry gets paid. You get a grant to sequence genome "X". After it's done? You publish your results and move on. Sure, you carve out a bit for overhead but most of it goes to new hardware (disk arrays, grid computing, oh my).
I often remarked that if I had enough money, there would be a killing to be made writing genome software with a proper visual and user experience design, combined with a deep computer science background. My perfect team would be a CS person, a geneticist, a UX designer, and a visual designer. Could crank out a really brilliant full-stack product that would blow away anything else out there (from sequencing to assembly to annotation and then cataloging/subsequent search and comparison).
Except, I realized that most folks using this software are in non-profits, research labs, and universities, so - no, there in fact is not a killing to be made. No one would buy it.