Great in theory, likely pretty tough in reality.
Look at how challenging it is to get syncing to work with their own books where they have control over format/structure. Imagine trying to cover all kinds of different formats/file structures etc for e-pubs from various sources. It sounds like they pretty much have to duplicate the programming to make features work with e-pubs vs kepubs. Heck, for footnotes/endnotes alone there are a bunch of different ways they can be set up in the book. I can understand the desire to have it, but the reality would be where's the economic payback for Kobo to put the development money into it (even more so since you wouldn't need a Kobo device to use it (just the Kobo app on whatever device) = potentially no sale of books or hardware).
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