The tradeoff is that file systems like NTFS or HFS+ (and other journaled file systems), can take up more space and incur write penalties (To file itself, to the log, metadata etc...). APFS is as you point out a newer more modern file system, that has efficient resource sharing (like copy on write) and snapshot support.

You can have a fast indexed based search on APFS, but you'll pay for it with a very large index size, which the average user doesn't want.