As I understand it, the idea behind the SerializableAttribute is to create an opt-in system for binary serialization.
This is only a requirement for BinaryFormatter (and the SOAP equivalent, but nobody uses that). Diego is right; there are good reasons for this in terms of what it does, but it is far from the only option - indeed, personally I only recommend BinaryFormatter for talking between AppDomains - it is not (IMO) a good way to persist data (to disk, in cache, to a database BLOB, etc).
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