Sure (he said, after looking up what a JFIF was), that format can be useful. But not widely useful, nor particularly practical for sharing.
If I’m going to save an image, and I want to save all of it, I’ll use some very large but effectively “complete” format, such as a RAW format, or TIFF. When I want to share it, I’ll use any of a number of tools to render the image in a way that is both accessible and that shows the image in the way I want (color corrections, specific colorspaces, etc.).
It really sounds like JFIF is a solution in search of a problem, or a tool that does something in essentially a completely new (but not necessarily better) way - well after other tools have established themselves as standards.