H2O was a big upgrade for me but my old reader did not have light or touch. And it was not a Kobo - so the software side of things definitely was a huge improvement as well.
Going from an Aura to H2O, everything but the screen would stay the same. Okay, if you're lucky it's also waterproof. Is it worth it? I'm not really sure; it may be to you, depending.
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