I disagree. PDF is the most desirable format for printed media and its analogues. Any time I plan to seriously entertain a paper from Arxiv, I print it out first. I prefer to have the author's original intent in hand. Arbitrary page breaks and layout shifts that are a result of my specific hardware/software configuration are not desirable to me in this context of use.
In research and in embedded hardware both, I've met some people who had entire stacks of papers printed out - research papers or datasheets or application notes - but also people who had 3 monitors and 64GB of RAM and all the papers open as browser tabs.
I'm far closer to the latter myself. Is this a "generational split" thing?