What is the thought behind texmf/web2c/xxxx.fmt?

[Martin Hagstr\vm]

Busy installing teTeX while looking at another installation at the
department above I like to know way there is no specific directory to
place the actual formats files in. My collegue at computerscience put
them into a texmf/ini but in the teTeX distribution they stay in the
web2c directory. Wouldn't it be more logic with ini, or formats or..?

Happy for an answer, 

Sincerely,
Martin Hagstrom