Earlier quoted context omitted.
That's nice, but I meant something else. I was thinking: what if users of Whatsapp and other chat services could define their own emoji, as they type, and share them with other users? If a friend sends you a new emoji, you could simply copy it and use it in messages of your own. This functionality doesn't work with fixed codepoints. Of course there's a million way to do this (even with today's Unicode standard), but…
That sounds like a cool idea, but a complete pain to implement. There's been bugs that crash iPhones with combining Arabic, or freeze Android devices by spamming LtR override. There's the Zalgo meme, where you drown out your words in combining diacritics. Layout engines are already struggling to keep up with the standard, even without the ability to render a UINT_MAX x UINT_MAX canvas of infinitely repeating fractal…
On further reflection, you would probably want some way to efficiently signal the dimensions of the SVG-mode glyph, so that the text layout engine doesn’t need the SVG parser, and only the renderer does. That would probably add at least one more code point reservation, depending on how you chose to do it.
But I’m only saying that it’s actually not that hard to do; I firmly believe it’s a bad idea, and I’m fairly confident it will never happen.