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I can't compare against the Oasis, but I recently got an InkPad 3 and I'm very happy with the screen. The size and resolution are fantastic, the frontlight is even over the screen, and being able to adjust the color is nice. The one minor issue I had was that I thought all the built-in serif fonts were too light, but that was easily fixed by downloading some more fonts. (E.g., you can put Bookerly on it if you really like that font.)
IMO the main thing that would decide which device you'd be happier with is whether or not you want to be tied to Amazon. If you want to integrate with the Kindle bookstore and use Amazon's cloud features to manage your library from the device, you probably won't be happy with the InkPad. OTOH, if you want to manage your library from Calibre, side-load everything onto the device, and not have Amazon spying on your reading, you probably won't be very happy with any of the newer Kindles.
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