I think there's a point to (possibly trivially) cloaking something so it doesn't show up in "find in files" or other text searches, clog the disk text index with unneeded things, save accidental viewing by other people, etc.
So my new take on it is to use ROT-13 for this "feature", so it's very clear that it's not supposed to be "encrypted" in any meaningful sence. It's more like turning a page face-down on the desk when you leave the cube, as opposed to locking it in the drawer. That's why ROT-13 was invented! That's its clearly defined purpose.