A "sane" default style would require "default" content coupled with a "default" viewing device. None of which exist. There can't be a one-size-fits-all solution.
In addition, content is more than just text - style, design, and layout are information, too.
I don't think anyone is suggesting that the new defaults be standardized. Each browser should pick defaults that make sense in the context they're used.
For completely unstyled sites, reader view should be the only view. What guidelines or rules should the other/s view/s be following? I say definitely not "nostalgic" view!