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Yes, it is inconvenient but the explanation is pretty simple. 10.4 was from the PowerPC era, apps compiled for x86 will not work on older Macs. Kobo could make a version compatible with older Macs but there is little incentive to do so.
Apple doesn't lose sleep over phasing out older platforms and leaving some consumers behind. Not pleasant, definitely not, but unless you upgrade your Mac you will probably be having to deal with a lot of this.
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