Storing records in a database in an opaque format is not advisable, no matter how compact the record format is. It carries huge disadvantages, both for reading and writing data:

Reading: it makes it impossible to index records based on their attributes, making queries very slow (as you already mentioned: "we would not have any ability to search records based on any attributes")

Writing: it prevents databases to compress the data. Column databases, for example, they store column values together. As these are usually similar, this compresses extremely well; usually better than compressing records.