Bookshout is not about the customer reading. It is a publisher focused service. It is designed to allow gathering data to share with publishers. It apparently uses epub files with its own proprietary drm. It only allows reading via its own Android and IOS apps and its own web reader and does not support any non-Android e-ink reader. It does not allow downloading of an epub outside of its apps. Presumably its apps do download epubs to secure storage on Android and IOS where they are not easily accessible. I'm not aware of any mention anywhere of anyone attempting to break this DRM, and frankly I don't expect to. There are just so many better places to buy books and better options to read them that if anyone bothers it will only be for their own amusement. This Wikipedia article sums the situation up nicely, including a prominent reference to comments on these forums:
BookShout
This and other similar proprietary apps are, at least in my opinion, blights on the publishing landscape, and to be avoided.