DragonBelow
Adventurer
Where it fails is in those areas where precise format and pagination are less important than content and text flow. For example, reading on a small screen -- such as an iPhone or deliberately small GUI window. For this, a hyperlinked, searchable format that will dynamically re-flow is ideal.
Such formats exist. So, again, why have PDFs become the de facto standard?
I think it was an early assumption that most people wanted the PDF to print them, PDF are pretty good for this. Think about when PDFs started, not when reading devices became common
I think the problem is not with the file format, but with the format provided by the publisher, for example RPGObjects provides PDFs for printing and for screen reading both in PDFs, and both work very well for their intended purposes,