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Although I can think of minor improvements that I would personally enjoy (a faster keyboard response for note taking, spelling suggestions for quicker typing, greater contrast, font weight controls, a whiter paper, faster CPUs, etc), they all seem incremental upgrades, not groundbreaking.
Although I've enjoyed everybody's wishlists from changes under the hood to interface improvements, but like my first ideas, they don't seem to be Kindle Killers. Maybe there isn't one big improvement that will set Kobo apart. Maybe the path forward is to cater to niche eReader customers with specific needs that aren't being met.
Kobo could pursue apps and services in the next model. Wattpad or Duolingo integration. Project Gutenberg. Newspapers. Magazines. There's content out there they could hook into the Kobo OS. Enabling plugins or apps could set Kobo apart from eInk Kindles.
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