No, of course not. You have a problem, but it has nothing to do with WiFi. If you have been transferring/sideloading your books to the Kobo and either not getting a true eject after doing it or not having the reader process new content, you may have a storage error now. Do the factory reset.
Some folks report that this is an issue that occurs only if you have applications open that have their own eject options and you eject with them still in play.