I'll give you just one example of the madness that is sometimes required: the escape code \e[1m is doing "bold on". It's counterpart to reset \e[21m, is supposed to do "bold off", but in practice some terminals do "double underline" instead because this standard is not a real standard. As there is also no real way to detect capability, the only reliable way to do "bold off" that I could find is to intercept the stream of data sent to the terminal to compute the attribute state. When you want to do a "bold off" you do a \e[0m "reset all" instead and sent the control character to set the state again without bold [1].
A new standard would also allow to reliably use features like displaying images or links.
[1] https://github.com/MichaelMure/go-term-markdown/blob/master/...