Re: the forma feeling cheaper, it is actually cheaper by about $30 but it is also a bigger 8" vs the Oasis 2 7" and the Kobo has the orange light too. I agree metal feels more premium but I'd almost certainly choose functionality and value over cosmetics. That's just me.
Edit: Got the numbers wrong. The Oasis2 is actually $130 more than the KoboF. Yikes

That's $CDN. Not sure how that works out in other countries, but the difference is HUGE when you factor in screen size and color light. I hadn't realized the price and spec difference.