If yes, then there is no need for this $cfg['DisplayBinaryAsHex']?

And for $cfg['ProtectBinary'], IMHO it should not be removed so that users have and option to disable editing of binary fields to avoid accidental changes to data (even though they can be edited in hexadecimal form). Also, BLOB data can be very large and if we remove this config. var. then whenever someone will try to edit row then every time that BLOB field data will be displayed (which can be very very large) will have performance issue as well as it can annoy the user.

Feature Request Link : https://sourceforge.net/p/phpmyadmin/feature-requests/982/