Because EPUB merely means to zip the HTML files and assorted resources into a single self-contained package with a manifest. By all means, let's create a similar but extended,
separate format... like EPUB3.
The only change I would make is perhaps to use a new .epub3 file extension or something. And by the time EPUB3 is popular enough to supplant EPUB2, we will have color e-ink fast enough to play videos, and the Galaxy Sx and iPhone will use these screens.