Plus, minus, multiply, divide, and exponentiation all have symbols in math (+, -, *, /, ^ ) . But why isn't there the missing log symbol too? Here's how it would work:
4 ^ 5 = 1024 (as is standard for exponentiation)
1024 _ 4 = 5 ("_" is the new log operator!)
Look how much more elegant <1> is compared to <2>, <3> or <4>. We shouldn't need to do those 'hacks' to express the same thing:
1: 1024 _ 4 = 5
2: log(1024)/log(4) = 5
3: LogBase(1024,4) = 5
4: log4(1024) = 5
NB: It doesn't have to be an underscore symbol. It's just the first thing that sprang to mind.
Having a binary log operator would be useful for visually parsing the sum due to its conciseness. Additionally, using root symbols (for exponentiation's other inverse) eats up vertical space, and I think there's value in being able to express a sum on a single line. It's also easier to copy and paste a single line for use elsewhere when we use standard text symbols that are available on a keyboard.
The answer, as many people have pointed out, is "historical accident." The evolution of language is a rich, messy process whose details are hard to predict, control, or explain. For a glimpse of how our current mathematical vocabulary came to be, check out Florian Cajori's History of Mathematical Notations. Since Cajori died in 1930, his book is currently out of copyright in the U.S., so depending on where you live, you may be able to read and distribute it freely.
Notation for logarithms is discussed in the second volume of Cajori's book, paragraph 469. Intriguingly, Cajori doesn't document any notations like yours, with the logarithm appearing as a binary operator between the argument and the base. This may be because when people use logarithms, the base is often fixed, so it's inconvenient to mention the base at all.
A similar thing happens with exponents. In many situations (including exponentiation in Lie groups more complicated than the positive reals), it's easiest to work exclusively in (the generalization of) base $e$, and just write the exponential of $x$ as $\exp x$
I quite like your notation (although I'd strongly prefer a symbol other than _, since many people already use that for subscripts), and I hope it catches on! I'll even suggest a modification. If you change the order of the arguments so the base comes first, just like with powers, exponentiation and logarithms cancel neatly:
b ^ (b L x) = xb L (b ^ x) = x