Just a personal opinion, but sideloading DRM-free standard epubs from calibre to a Kobo is very similar to using a Sony as regards, transfer, Collection management, metadata plugboards, current cover as screensaver. There are all sorts of calibre/Kobo bell & whistles, too, if you want to use them. davidfor is very proactive in keeping the calibre Kobo device driver up-to-date and adding extras.
All kinds of Kobo hacks are also available (but not essential), if you want to add even more functionality.
I believe annotations and dictionary are not as good on Kobo as they are on Sony. I don't use annotations so can't really comment further and the dictionaries are adequate for my purposes (I have 5 En-En dictionaries loaded). I also read that Sonys handle very large on-device libraries better than Kobo, but again I only load my TBR list so it doesn't bother me.
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