It is intended for a full "bare-metal" restore to the exact same device or an identical hardware model.
If you want a human-readable file that you can open in or VS Code , you must use the export command instead of the backup button. Backup - RouterOS - MikroTik Documentation open mikrotik backup file
Since you cannot read the binary file directly, you have two professional workarounds depending on your goal: Option A: The "Export" Method (Best for Viewing) It is intended for a full "bare-metal" restore