Following up on what Harry said, if your PDFs are just plain text, then you could read them 'OK' on an eInk reader using reflow, but most PDFs have some structure and really need to be read a page at a time, which means a larger screen.
For them, the iPad size is realistically the smallest you'd want to go & I'd recommend that for PDFs, leaving the eInk readers to handle novels via reflowable format.
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