Hm – I'm not too happy to see most of the original HTML-elements marked "not conforming" and "must not be used", thus preparing for browsers to eventually drop the support. There are still lots of web-sites and valuable information stored and archived in this format. Back in the day, it was thought that basic HTML was a format to last. Who is going to update these documents in order to make them conforming to future…
Removing support for presentational markup does not mean a loss of information. Browsers will still render tags they don't recognize, and re-applying the styling of those tags is often trivial. (I mention because it's one of the more difficult, but not terribly so)
As the web evolved, our needs changed. Do we still need the tag?