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I’ve had several e-ink devices going back to the Sony 505 and have never had a screen failure (looking around for some wood to knock on)...
As HarryT said—it’s batteries that will fail first. I still have my 505 and charge every so often. Battery only lasts about 1-2 hours on a charge now. Both my Sony 350 and 650 show signs of battery degradation, but I can still get a decent amount of hours out of them—probably 4-6.
I gave my Kindle Paperwhite to a friend after a three or four years of use and it is still going strong for her.
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