The constant $\epsilon_0$ almost never appears in an expression where it's added to another term; it's multiplied instead. Contrast with electric charges, which combine by addition, and for which the "natural" value is zero. For a multiplicative constant the "natural" value is one, though you can complicate the situation by introducing an unfortunate choice of units.
In quantum electrodynamics it becomes important to know the relation
$$
\frac{e^2}{4\pi\epsilon_0} = \alpha \hbar c
$$
where $e$ is the fundamental charge, $\hbar$ is the reduced Planck constant, and $c$ is the speed of light. You should choose your favorite system of units and do the arithmetic to confirm that the "fine structure constant" $\alpha$ is dimensionless and has a value $\alpha \approx 1/137$. The "small" value for the dimensionless $\alpha$ means that $\alpha^2 \ll \alpha$, and is the main reason we can use perturbation theory to describe the interaction between electric charges as "approximately" one-photon exchange, with "corrections" due to virtual particles and the like. In the mathematical formalism, each level of "correction" is less important by a factor of $\alpha$.
The equivalent dimensionless coupling for the strong interaction is $\alpha_s \approx 0.1$, and there are more types of gluons than there are types of photon, so we say that the strong interaction is "non-perturbative" and must use much less satisfying techniques to make predictions about it. The main result of this difference is color confinement, which is why our world is made of protons and neutrons instead of quarks.
A world in the limit $\epsilon_0 \to 0$ would be a world in the limit $\alpha\to\infty$, and would be as different from the world where we live as the strong force is from electromagnetism. It's better to think of $\epsilon_0$ as "one unit" of vacuum permittivity.