I can think of two things here: First, the place has the same name as a place in Italy. Dis may want to have an italian restaurant that is not linked with another restaurant - for legal reasons, or whatever.
Secondly, that place is SMALL considering how popular it is. Have you been in there when it has been packed? It is standing room only and I am surprised there is no fire code violation. Last year we could barely squeeze the family to the table.
One by one, they have been completely renovating the EPCOT restaurants, from the ambiance to the menu. They have done this with the Garden Grill, and the Japan places, and Norway - I think the England place is next and Canada won't be far behind.
I hope they make the place larger... Seriously, it is one of the most popular restaurants at EPCOT so I am sure it will reemerge in some form. Let's just hope it will be bigger and better.....