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The eink does (optimistically), black, 14 levels of grey and white. This limits the number of colours (including 14 levels of grey, white, 15 brightnesses of R G B C Y M and a lesser number of tertiary shades and saturations of all shades as well as black).
The 4096 is a mathematical maximum number of possible values set by splitting the underlying "16" levels with R, G and B.
I'm not calling you crazy, but I'm sceptical that in real life the displays will be as good as the videos (not native resolution, ideal conditions, post production and viewed via RGB camera and RGB active displays that are a compromise match to the R G and B peaks of human sensitivity and don't accurately reproduce even OLED or LCD displays different from your own, or camera response). Add also the errors in the colour rendition of the illumination for the video (more important than OLED/LCD).
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