I wouldn't say it "eliminates" it. Even without ethanol, gasoline still goes bad far faster than diesel. Gasoline is full of aromatic hydrocarbons that eventually will break down, and after a few years you're left with a brown stinky liquid.

Up until a year ago where I live, Chevron 94 Octane was ethanol free. I had issues with older carbureted engines after leaving gas in them for ~2 years. With E10 I wouldn't dare go that long as it can be so corrosive.