Ok that is a fair question.
The Hobbit encoded the data this way to be as compact as possible - this saved space but this made easy fan translations difficult (you are not looking for strings any more - you have to re-design the whole parser.)
Think of the advantages of creating a program this way - you tokenize whole parts of the sentence that you can re-assemble as you need. This enables you to pack a lot more data than you would have otherwise been able to with simple strings.
When you think about this technique, an obvious application is to use it for stuff like Plotto. To try and digitize plotto using standard string storage wouldn't work because it would take up way to much space even on a disk system. So what I am saying is probably the only way you could get a digitized version of plotto on the spectrum would be to use the same type of tokenizer/parser method that the hobbit used.
Now why would you want to do this - well as far as interactive fiction or RPG goes, Plotto can give you a very rich almost never ending set of story possibilities. Lots of TV shows and pulp stories were written with this method. Perry Mason is probably one of the best known examples. Others that have been suspected to use Plotto were many of the Perry Rhodan stories - how else do you write 30-50k words a fortnight for years without some sort of help like this?
I am not sure its been attempted on the spectrum, but what I am saying is by using the same technique that the hobbit used, you could at least come close.