For example, I personally like to purchase books that are in PDF format, not epub/mobi. I want to rely on professional typesetting from the publishers, not some front-end engineer's vision of what the ebook should look like and how it should be presented to the user. It works only for novels and long form reading where typesetting is not critical. Basically any book that also has a good audiobook version works fine with epub/mobi since visual formatting is a non-issue. For everything else - programming books to research papers, PDF is great. Can PDF format be improved? Sure, but the level of adoption and its widespread use is more important than fixing copy paste and content migration aspects of PDFs.
What I absolutely DO NOT WANT - is web page like format with auto-flowing text and something that fits to the screen with user styling/typesetting. That IMO defeats the purpose of what the container is supposed to do, i.e. contain and not leak. It should most definitely have fixed physical dimensions (or pixels).