Why does USB have Vcc=5V and high=3.3V?
The higher voltage allows compensation for voltage drop to the device. If USB was 3.3v then if you had a long cable and poor connectors with 0.5v of drop then the device will only run at 2.8v. If the voltage is 5v the you still have 4.5v to work with and that is enough to run an LDO voltage regulator.