The only think I feel is missing is traditional SQL syntax. This makes it much harder to use as a drop-in replacement where someone would actually otherwise use the competitors mentioned on their homepage.
I think its real competition is SQLLite and JSON / YAML, and it definitely has some benefits over the text formats, it can't compare with SQLLite.
There are applications that let you query structured text with SQL. For example, https://github.com/dinedal/textql there are others as well.
The rec format is interesting because it is a specification for what others have used before without one. It seems quite readable and does not suffer from the ",,,,,," problem of CSV.
[1] Here's the list of ones I have run into so far:
* https://github.com/harelba/q
* https://github.com/tobimensch/termsql
* https://github.com/samuel/squawk
* https://github.com/tjunier/sqawk
I've also written one: https://github.com/dbohdan/sqawk. It turned out I wasn't the only one to come up with the name.