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Well, considering that DRM of Kindle & Co is long broken, it'd be stupid not to watermark the books, as all you'd have to do to get a watermark free pirateable copy would be to do the same thing everyone's been doing for years, remove DRM.
So it has to be watermarked. Otherwise they could just as well not do it for their own versions. But then again that's assuming there's any point to the watermark in the first place which there probably isn't. So...
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