1. It is tied to v8 (PDFs can run JS, this PDF viewer uses v8 do so - see CJS_Context::RunScript etc), so it would mean bundling 2 JS engines, with all the security downsides of that.
2. This is written in C++. You can sandbox C++ in various ways, but that would still increase the surface area of the browser, compared to pdf.js which only uses things normal web content would use.
3. pdf.js is not just meant to render pdfs, it's also a useful project to push forward the web platform. Areas where pdf.js was slow turned out to be things that were worth optimizing anyhow. This doesn't benefit people viewing pdfs directly, of course, but it's still an interesting aspect of the project.