There's nothing new here. People have been using cell phones as reading devices for a while now. Take a look at sites like
http://www.wattpad.com. People who love to read will read, and people who love gadgets will use gadgets. It's no surprise that those of us who like both will bring them together.
As great as e-ink devices are (and they truly are great) many people want device consolidation. They'll get in their phone / pda / mp3 player / gps / ebook-reader. Is it better that way? I don't know, but if people stop trying new things, we loose innovation. Maybe future generation phones will use better e-ink technology as well?
- Ed