[1] Great studio guitarist Glen Campbell supposedly couldn't read music at all, just went along with what he heard and made it work; Tommy Tedesco by comparison could read sheet music upside down.
Joni Mitchell apparently didn't even use regular tab notation. She'd detune her guitar and annotate the relative pitch shift per string, e.g. D-2 G+1, etc or similar.
But of course, up to a point, lowering barriers is always a good thing for beginners.
Here's a screenshot I took of a random song in TuxGuitar (a GNU licensed tablature editor/viewer). You can see the rhythm fairly clearly, as well as the difference between pull-offs and slides.
There's a huge jump in the complexity of how you need to reason about translating the music to the instrument with staff notation. Tabs solve this by explicitly telling the musician what fingering to use.
Guitar players should still learn to read music because it's useful, but anyone who wants a guitarist to play their music (especially by sight) should use a notation similar to tabs, but with rhythm indicated as well. Good software to convert between the two could be generally useful, but I imagine there is a bit of nuance to what fingerings sound the best.