Plus even that isn't enough: 10/3 has an infinite decimal expansion (in base 10 at least) too, but if π = 10/3, you'd be able to find exact circumferences. Its irrationality is what makes it relevant to this joke.
A mathematician is also perfectly happy with answers like "4π" as exact.
Plus what's to stop you from having a rational circumference but irrational radius?
Writing this, I feel like I might have accidentally proved your point.
Yup, similar to the square root of two and Euler's number.
These are numbers defined by their properties and not their exact values. In fact, we have imaginary numbers that don't have values and yet are still extremely useful because of their defined properties.
The actual punchline here should have been “there is no known equation to calculate the exact perimeter of an ellipse”, then sucking tears from an astrophysicist