I have an iPad 3 and a K3. I much prefer reading on the K3.
But I don't think it's "bad" to read on the iPad; it's just less relaxing for me.
Although if I'm just going to read for 15-30 minutes before I go to bed, I may turn out the lights and read my iPad or phone in bed on the white-on-black setting. But for long term novel reading, I prefer e-ink.
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