I have the older Borders app open alongside the new Kobo app, and I can't see any new features. They're basically the same basic reading app. The library view continues to make the same mistake as most apps. They show a bookshelf, not a catalog. If I imported my complete ebook collection then this library would be unusable. There's also no way to check the metadata for a title, or to see which title was read last.
There's no support for active reading (bookmarks, highlighting, notes). There's no support for changing line spacing, margins, justification or other basics. You're limited to just the one column of text (half my screen is wasted).
The app is tied into the Kobo ebookstore and I can't see a way to add my own ebooks. I really expected more from Kobo. I'm disappointed by how little this app can do.
HTG, this is the first time that I've ever downloaded a reading app that was a waste of time. Really. If you don't use this ebookstore then there is no reason to get this app.