Retiring SEG-Y (really)

Since I joined the oil and gas industry 13 years ago, I have been utterly amazed with the industry's ability to cling on to a file format which is error-prone, inefficient, bastardized beyond recognition.  SEG-Y has shown itself to be entirely resilient to a decade or two worth of improvements in storage & retrieval, indexing, metadata and so forth.

What is it that oil companies & service companies would like to achieve: