If you want something to print beautifully, you take the time to put the figures and pictures exactly where you think they fit. If you want something to be read with arbitrary text sizes, you hope they'll show up somewhere near the relevant text. Treating a book as an ebook, or vice versa, will always be a compromise.
I haven't seen that happen yet though...
A "multi-view" format that could be viewed as full page layout (both scrolling and paged), small screen linear, audio-only linear, or machine-readable (full, deterministic text sequence, tabular data, alt-text and tags for images and charts, etc.) All pages, images, fonts, etc., would remain encapsulated within a single file.
The closest I've seen is the latest ebook format, but that doesn't have anything close to the power of PDF to lay out a proper textbook or magazine article page.