XML can be very useful in contexts that you might not expect. Such as preprocessing tools for logging (this is what OP wants I think), some audio post tools.
I make an audio workflow tool called Vordio that converts XML from an NLE to an REAPER project. It dumps more of the metadata into the audio project than you could ever get from a typical OMF/AAF that you are probably used to using for audio. It applies scene/take as hover overs on the audio items, regions and markers to send sound design instructions etc. It can organise audio by ‘role’ for FCPX XML as tracks don’t make sense. All that is in the XML to be used so why not use it?
Some requested new features actually will require full project XML (which Premiere does also support). For instance you may need to know metadata for audio that is not even used in the sequence. An example would be which alternative take can be used to find a word replacement. To do that you need to know which audio is from same scene but NOT the sequence. That info is in the project XML but not the sequence XML.