To be honest the best part of Calibre, the `ebook-convert` tool, is already broken out from the rest of it. It's similar to pandoc though in my opinion often does a nicer job.
Even the best codebase can't effortless be ported. Calibre seems to have something around 25 MB of python-code, several external plugins, some C-code and other languages. Transition of this would take quite some time.
Additionally, there is the problem of compability. Configuration in Calibre is python-code, and on several corners the user can mod stuff. Any transition would need to make sure to not brake things to hard.
Also looks like any Python3 patch doesn't break the current Calibre build is welcome indeed.