The Kobo has a thinner side and harder and sharper edges than the Y700 with the rubber case.
Personally I'm not overly distracted by android apps when I'm reading a good book, but YMMV.
My Kobo doesn't have any buttons.
It also forces me to go on wifi and make a Kobo account to use the device at all (even if I'm just interested in copying epubs).
In short and honestly after 5 years of ownership: fuck Kobo and and fuck ereaders in general.