Well - to be clear, if I I run into a log file with it's data on a single line, 95% of the time it will take < 30 seconds to extract the data I need. If I run into a multi-line json file, trying to re-integrate all the data back into a single record will take me on the order of 30 minutes. (Mostly because I usually only do it once or twice a year, so I typically start from first principles each time. Multi-Line .json log files are very rare.)
95% of the time I just give up on the multi-line .json files - unless it's really, really critical, I probably don't want to spend 30 minutes writing code to re-assemble the data.
Text Log files, wherever possible, should capture their data on a single line. If they need to go multi-line, then having a transaction ID that is common among those lines, makes life easier.
.json files (or xml files), are an interesting halfway point between pure text, and pure binary. They aren't easily parseable without tools, but, if you have to, you can always write your own tools to parse them.
Neither fish nor fowl.