I just read the wikipedia article about "equality". Why do they treat equality = as a relation linking just two objects? It seems like they are treating = just as a symbol (which can be written between two expressions), satisfying some axioms (axioms of equivalence relation + substitution scheme), like in a formal system. But in the natural language, one could also formulate things like “The three objects $\mathrm{e}^{i\pi}$, $\cos \pi + i\sin\pi$ and $-1$ are equal”. (Note that this is equivalent but not identical to asserting that $\mathrm{e}^{i\pi}=\cos \pi + i\sin\pi= -1$, where $a = b = c$ is a shortcut for “$a = b$ and $b = c$“.)
Thus in my opinion, this notion of equality doesn't reflect human thought.
Of course, equality is property of two object, so I believe it natural to be treaten as a binary predicate symbol. However this really is no limitation to its use whatsoever. The formal language behaves as the natural one. You would agree that $=$ is binary but you can use it more generaly, lets say for three objects. You can do the same in formal language.
Compare to set theory. You start only with one symbol, that is the elementhood relation $\in$, it is very useful to start as small as possible (you e.g. desire to have a simple, but expressible formal system). But you can define new notions like relations, set of natural numbers and so on. Similarly, if you like, you can define ternary equality. The formal setting of predicate logic is perfectly capable of doing so. simply add an axiom $\forall y,x,z( =^3(x,y,z)\Leftrightarrow x=y\wedge y=z)$. It is just like agreeing on how to use equality in natural language. Yet it seems quite useless in this case.