Sandboxing + limited local storage + no network access (the latter two might be at user's will) should suffice as being a deterrent against "exploitation".
JS brings some benefits (manipulating the DOM might be used for very legitimate and worthy goals) and it fills some implementation gaps (like my Media Overlay emulator JS for reflowable EPUB3 ebooks in iBooks).
I think that the "JS rage" (no offence intended) should be directed towards other targets, like buggy, lacking, or non coherent implentation of (EPUB) standards.
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