EMIB requires that all components can fit on a die that can be connected to the other components like the CPU using an embedded channel through the substrate. Expansion of the substrate to accommodate other components is not without costs.
Umm, probably, but NVMe is still connected via PCIe. The whole point of this deal is the EMIB connecting RAM and GPU. And its hard, EMIB connections is mostly to do with power dissipation and throughput.
I am probably out of my depth guessing why companies are doing this with NVMe. Maybe its just that the market does not exist for it maybe its just the cost...