I was under the (perhaps mistaken) impression that AxeFX III no longer uses SysEx to communicate with the editor/FC6/FC12. Aren't they now doing something similar to how Helix Rack communicates with Helix Control?
It uses Sysex between Axe-Edit and Axe-Fx 3. You send a Sysex command with e.g block ID, param ID, param value and a checksum, and over MIDI In you get the same thing back as "Axe-Fx 3 set the value to what you wanted", or an error if it failed. Not sure what it does between the FC stuff, but probably something fairly simple since most of the processing is at the Axe-Fx 3 end.
Regardless, there are far more robust and more powerful, scalable, and extensible protocols than SysEx.
Oh for sure. MIDI 2.0 would probably allow for a lot of cool things too for external software/hardware.
It's just that none of the modelers on the market offer any good way to work with them using 3rd party gear if you want to do something that is not directly possible from the unit.
One example is the way Fractal locks down parameter control from Axe-Edit and front panel if you map a MIDI controller external modifier to any param. Only the MIDI controller, whether it's connected or not, can change that parameter now. There's not even an escape hatch to disable all modifiers if you forgot your MIDI controller, there's a faulty cable etc. All you can do is remove the mapping one by one, from each preset.
If you instead use MIDI Sysex to say "set block ID 3 param ID 2 to value 6.2" it will do that without complaints. This instantly allows you to use a MIDI controller OR Axe-Edit OR front panel as you please. You can also adjust as many parameters as you want in realtime instead of the 16 CC mapping limitation on the unit.
But you need to write a middleman software to translate MIDI CC values -> Axe-Fx Sysex commands.
To bring it to Helix, the "Let's ditch all MIDI CC mappings because you changed the model in this block" functionality is so, so bad. If Helix offered a global MIDI mapping system that doesn't give a damn about whether the param actually exists in a preset, you could build your own instant control system for any block params.