I've used the ledger-likes extensively, and they have two major problems:
(1) One of the hard problems in personal finance is data capture and input validation. Programs like QuickBooks and Xero don't just hide the GL because they're being mean, they're doing it because even experienced bookkeepers make mistakes on the general ledger all the time. "Since it's a text file it's easy to read" solves exactly the wrong problem: you want it to be easy to write, and easy to write CORRECTLY.
(2) They're the sort of solution that seems fantastic if you don't actually operate at scale. But once you start dealing with tens of transactions per day it simply is not sustainable.
Safe to say: I'm not really a fan.