The protocol for The Internet

The protocol for The Internet is currently HTTP, or Hyper Text Transfer Protocol. It is just shy of 20 years old. Its age has lent it to be modified and layered over with capabilities, as per the Internet changed, that make it very difficult to implement. This is a problem. The fact that it is human readable is also a problem. Though it helps in debugging, it wastes bandwidth. This protocol, as the acronym states, transfers a language called HTML. By definition, it is meant to be a loosely interpreted language, meaning it is not an exact language. I think this is a problem. Is a redesign of both the HTTP protocol and the HTML language in store? Or is this a case of 'don't fix what isn't broken'? Does the fact that it is working well outweigh the possibility of it working better?