The short answer is that the diameter of the lens mount and minimum distance between the rear element and the focal plane (due to the mirror box) makes f/1 the maximum aperture for full-frame coverage on any current SLR mount. There is a real physical limitation here. (I guess covering an APS-sized sensor at <f/1.0 might be possible, though.)
It's the maximum aperture for full-frame coverage focussed at infinity, I believe.