In the case of Kobo, a lot of the features seem to be related to marketing. That is mostly true from the perspective of their shopping features. That is probably true from the perspective of the social networking features.

When it comes down to reading related features though, I believe that we should be asking for more. The current slate of features is fine for people who have small collections of fiction, but doesn't fare so well for people with large collections or who read a lot of non-fiction. Bugs aside, it isn't too much to expect of readers either. Even though the combination of processor, memory, and eink may sound weak we used to do a lot more with computers that offered a tiny fraction of the power. Remember, books are about static text and pictures on a page. Slicing, dicing, mincing, wincing, and all of that other stuff can be readily handled in background processes. User interface elements don't consume much either since eink necessarily limits the processing power and memory requirements (fewer pixels, fewer bits per pixel, and limited options for animation or decoration due to einks limitations).

Yes, we should demand that the bugs be fixed. We should also demand new and relevant features. These are, after all, devices that they expect us to dump our hard earned cash into. If they want us to continue doing so, they should invest in developing them further rather than neglecting them in preference of their store-fronts.