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I don't see why there would be any need to get rid of all the memory or the wifi? Those are not really a large component of the ereader's cost. Regardless of whether we are or are not interested in it, currently it is not realistic to have an ereader for $20, because IIRC, the screen itself is around $30. The processor and the other electronic parts also cost a fair amount.
I also don't think the power demands of an ereader are low enough to be handled with solar or watch batteries, even without wifi. Regular AAA batteries might work. The problem is that it would possible end up to be more expensive to run a bookstore that was cards with books on them than an ebookstore. (inventory, manufacturing, legal stuff, distribution, etc) That cost would also have to be factored in also.
You also don't need a credit card to get ebooks: you can buy cards, and there is a lot of free wifi out there. However, I don't think ebooks will really work out for people who don't like computers so much they're unwilling to learn how to buy them.
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