I imagine there's no real reason that content blocking shouldn't work on 32-bit devices, but that Apple are trying to hit certain minimum performance numbers (for marketing/brand purposes)... and I'm sure they won't be upset if this should happen to encourage a few users of older devices to upgrade (i.e. forced obsolescence).
I think there are various examples of Apple doing this kind of thing (saying a certain generation of hardware is supported by software X, but then you find various things are disabled for you). Not exactly the same, but pre-2011 Macs cannot mirror their display via AirPlay (Apple saying the video hardware isn't up to the task) -- at least not until you install the third-party app AirParrot, then it works fine.
[1] https://developer.apple.com/library/prerelease/ios/releaseno...