And unzipped, it's xml. It's only really suitable for importing into other JIRA systems. If you're thinking of transferring it into other systems, you *really* need to understand how JIRA works (and bear in mind that it can change, drastically, between versions, even minor releases)
For JIRA Cloud (which seems to be your version), the backup file will be a ZIP file with two XML files inside (entities.xml and activeobjects,xml). Also, in case you check the "Attachments" backup as well, you will also see a folder with all attachments inside this ZIP file.
Hope this answers your question.
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