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Repeating what I said in another thread: I think Kobo is not so much trying to offer a super-duper new reading device as to provide a device tied to their ecosystem for those who prefer eInk. Since they already offer free software for many smartphones, Bluetooth connectivity is not a bad way to go, and way cheaper to put in a device than wifi or 3G.
In other words, this is a device for those who will use the Kobo ecosystem, as the Kindle is the device for those using the Amazon ecosystem, and nook for those who use the B&N ecosystem.
I think Kobo plans to make their money selling books, not liseuses.
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