At this point, I think that they are "good enough". On my Kobo, the stock reader (with patches and after formatting with Calibre) works well. On my phone, the app I use works well.
I did struggle at first with Calibre for the formatting options, but things have "just worked" for the past couple of years.
I do wish that the Kindles' software had more formatting choices (font size and margin size); I probably would give Kindles a try of they did.
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