That is definitely the case. There is something in a particular factory firmware version that means something extra has to be done to update past 2.0.0. That is why the 2.0.4 firmware has been sent to some Australians.
I had 2.04 and it updated to 2.1.4. I also had a problem with my device saying I was out of memory even though I only had 131 books on the device. The problem occurred with both 2.04 and 2.14, so I did a factory reset. This cleared the memory problem but when it reset it loaded the 2.0.0 firmware.
Subsequently, I have not been able to update to 2.1.4. If 2.0.0 is highly problematic and I don't doubt it, then why would Kobo load 2.0.0 when people do a factory reset ?
I like Kobo and I really like the new product line, I intended to buy a Glo and was also contemplating buying an Arc when it came out. But between this never ending roll out and not knowing when to expect product in the U.S., I find myself rapidly losing enthusiasm.