Raising the min API level does not refer to the API level the app is compiled against or targeting, nor that it cannot use newer functionalities. It just means that there are some "if"s for when a newer system API is called to exclude its usage on older devices and, instead, use a fallback when possible.
Personally, I would not raise minSdk
because that would restrict the user base, which is already quite narrow. Rather, I am going to continuously raise targetSdk
because that ensures the app can use the latest features and works correctly on newest Android versions.
Maybe you are referring to Summit supporting predictive back gestures and Raccoon not doing so. This is not related to the API level but to the fact that Raccoon uses Kotlin Multiplatform and Compose Multiplatform. Being a multiplatform app means that it's relatively easy to get an iOS or desktop build but there are restrictions on some native features such as predictive back.
Raccoon uses the Voyager library for navigation which still doesn't support predictive back (issue here) due to such difficulties. I've considered replacing it because AndroidX Compose navigation has been ported to multiplatform but it's not easy changing a core library like the navigation one.