eInk has been one of the most disappointing tech developments in recent history. First mass-market devices came in 2006-2007 iirc, and there has barely been any evolution in the display tech since. The screens are still small, slow, 16level grayscale, low-contrast, and low-resolution. eInk really had a lot of promise and hype when it was new, but these days it seems just stagnated.
Maybe it hasn't progressed as quickly as one might like, but I think it's a brilliant development: it's very good for actually reading books without notifications and beeps and whistles and all kinds of other crap popping up on the screen. Also, the devices have fantastic, stress-free battery life, weigh very little, and don't bother your eyes like LCD.
In other words,"most disappointing" seems a bit exaggerated.
I have Kindle 3rd gen and it is awesome device (I think it blows away both kindle 4 and Paperwhite) but I am thinking about getting something with Nexus 7 2013 display if it kicks the bucket. The display in the nexus seems like it can give the kindle a run for the money for comfortable reading.
I have a Kindle and a Nexus 7. Both are nice devices, but serve very different purposes. You can certainly read on the Nexus 7, but it's an LCD screen: eye strain. Also, there are continuous distractions, and sites like this one are just a few taps away.
Taken all together, this means the Kindle is way better for just reading - you can really lose yourself in the book, something that I can't do at all with a regular tablet.
They've definitely improved the contrast and resolution over the years, and the screens are small for business reasons, not technical ones. Compare a 1st Gen Kindle against a Paperwhite, and it's pretty impressive. I think people are just spoiled by semiconductors, where things get twice as good every other year. Real products don't work like that.
It seems that eInk technology has reached it's limits in terms of contrast. I was disappointed when I compared the new Kindle Paperwhite to my Kindle Keyboard. With the Paperwhite's backlight off, the contrast seemed a little worse - blacks were a little more grey.
