It should. It really has few benefits.
The problem is that combining Ethanol with gasoline deprives you of all the uses for pure Ethanol:
1) Alcohol lanterns & cooking-stoves
2) Disinfectant
3) Human consumption
4) As a money* item
*’Money’ being an easily transportable, easily dividable, valued substance enabling trade.
It should be illegal to blend ethanol, should be considered fraud. Existing merchantability laws already cover this.