Are all finitely recursive context free languages parseable with a regexp?
We can take it even further: if we put a limit on the size of the HTML/XML, say 1PB, then there is only a finite number of them, so we can trivially parse them in $O(1)$ using a giant look-up table. However, that doesn't seem to tell us much about the complexity of parsing HTML/XML in practice. 

The issue at stake here is modeling. A good model abstracts away the salient points of a real world situation in a way that makes the situation amenable to mathematical inquiry. Modeling HTML/XMLs as instances of arbitrarily recursing language forms a better model in practice than your suggestion or my suggestion.