Precisely. That is how I would have designed a wireless mouse protocol: using wrapping counters and sending the counter values. The HID protocol does not support an input value that is Absolute/Wrap (although it could be extended to do so, and I think that it should)

I'd think it would also be possible to get around congestion problems by using tricks such as multiple channels and/or interference detection on top of BLE. But only Logitech knows how Bolt actually works.