It does have a low-res, 150dpi screen, but it is an 8" epaper screen with a frontlight.
But it also has a reduced price for early-bird orders through their
Indigogo page.
$169 for the reader on its own, or $179 for reader and cover, postage free to US and EU. But only 150 of the bare reader and 100 of the reader with cover are available at that price.
At £120 for reader with cover, I'm going to give one a go.