I’m not sure what you’re asking here. Are you asking why the Micro POG isn’t true-bypass? There really isn’t an answer for that question, but I can confirm that you’re right about it not being true bypass.
Maybe a 3pdt simply wouldnt fit into the case with everything else, or the manufacturing costs had to be kept under a certain amount and including true bypass would have resulted in a non-cost-effective product, don’t think we’ll ever know. Very few pedals with two outputs are true bypass (Marshall Echohead, EHX SMM with Hazarai, EHX Cathedral, and so on), so maybe it was a decision between having the wet/dry output option or having true bypass and EHX found that the two output option was the way forward.
You could always buy an EHX Switchblade and put the microPOG in the FX loop, this would act as a true-bypass switch. Even better make your own, these are the easiest kind of pedals to make; no components in them whatsoever, just 4 jacks and a switch (assuming you’re not fussed about an LED).
Hope this helps!
EDIT: Just noticed the Switchblade is an ABY pedal, not a loop pedal, so ignore that bit. This is what I mean by loop pedal;
http://superkingpedals.com/images/pedals/superlooper.png
