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That's very good news. Note, though, that it's describing ePub as a working format " from which any e-book delivery format can be rendered". That's what makes me rather doubt that any quick end to "eBabel" is in sight - there are still going to be a variety of "terminal formats" created by publishers and some devices will support one, others another.
This usage is similar to the way that the older OEB (Open EBook) standard was used, to create terminal formats such as LIT and Mobi.
If more publishers do start using ePub as a working format from which to create their various reading formats, however, the end result must inevitably be an improvement in the quality and consistency of those reading formats, so everybody will benefit from that. That's why I'm pleased to read this announcement.
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