Good reason for a single EOL character
For people talking of CR/LF sequence on a TTY, just take note that even that sequence may need transformation for actual device working properly. In fact, physical carriage return takes time, and it happen this is not managed internally by device, forcing driver to create a delay with a limited count of NUL characters.
And as soon as a driver has to inspect and slightly transform characters stream, there is no longer need for EOL character to be tied to TTY.