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It's quite silly, we do not need more formats.
XHTML, Javascript, XML can provide very ebook friendly environments on tablets. We don't need proprietary C coded crap getting in the way. Basically you can already create fantastic interfaces using Javascript and other web technologies for browsing and reading ebooks ad that should be able to transfer to a tablet seamlessly. You can do things like coverflow and 3d cover galleries with Javascript frameworks now.
The only reason to create a new dedicated format when free standardized technologies are so easily available is to lock people in and obtain some kind of profit.
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