PGPOINTCLOUD (PostGIS extension) is an open source project very interesting when dealing with a large amount point data in PostGIS. Compared to PostGIS multipoints format, we can use for each point as much dimension as we want, (PostGIS Multipoint is limited to 4 Dimensions). Another advantage is the data is compressed.
I think this format is a relevant alternative of multipoint format in some cases.
Here is the website for further information : https://pgpointcloud.github.io/pointcloud/
We use this format to store and request the sounds in production from French Hydrographic Service, it works well.
I would be very happy if FME could read and write directly to pgpointclouds.