Just yesterday I was thinking how all of the platforms are still using vfat as a go between. There really should be a new FS "for them all"
All attempts at such will fail. vfat won because it works in Windows without additional drivers. Anything you come up with to replace it will also have to work in Windows without additional drivers. It will also have have a workable implementation in what is essentially equivalent to the public domain, and be simple enough to process that hardware manufacturers can read it with a microcontroller. I would love to see…
Another option is NTFS, the one limitation is by default it is read only on macOs.