To my knowledge, nobody's implemented parquet fragment files. But it supports compression of JSONL out of the box. JSON compresses very well, and compression ratios approaching 10/1 are not uncommon.
But more to the point, journals are meant for things that are written _and read_ sequentially. Parquet wasn't really designed for sequential reads, so it's unclear to me whether there would be much benefit. IMHO it's better to use journals for sequential data (think change events) and other systems (e.g. RDBMS or parquet + pick-your-compute-flavor) for querying it. I don't think there's yet a storage format that works equally well for both.
But more to the point, journals are meant for things that are written _and read_ sequentially. Parquet wasn't really designed for sequential reads, so it's unclear to me whether there would be much benefit. IMHO it's better to use journals for sequential data (think change events) and other systems (e.g. RDBMS or parquet + pick-your-compute-flavor) for querying it. I don't think there's yet a storage format that works equally well for both.