The typesetting information is not included in the HTML, indeed, but since the moment the HTML is presented in some visual way, there is typesetting in the works... and ePUB readers could use good typesetting instead of the lousy one they currently use.
I don't say the HTML source should include any specific, low-level typesetting instructions, but the HTML renderer could do a better automatic job with the defaults. For instance, the line-breaking algorithm is usually poor, working on a line-by-line basis; it could consider the whole paragraph for line-breaking. There could be some automatic hypenation, maybe not perfect, but better than nothing.
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