The PW3 and PW4 have the same underlying screen/substrate, what is different is what the 'top' layer is.
I think the PW4's top layer is a little thicker, or maybe even a different material, and diffuses light a bit more (it not as sharp as Voyage). OTOH, PW4 has 5 LEDs vs PW3's 4, so lighting is a little more even. My PW3 has been 'on loan' to a friend since before I got the PW4, so I cannot compare them directly.
If Kindle was my primary reading device I might pony up for an Oasis, but it's perfectly fine for the amount of reading I do on it.
I would use it more if it played audiobook companions with synchronized page turns (immersion reading with or without text highlighting). Can it really be impossible to do this?
I find dark mode something of a novelty, not nearly the equivalent of dark theme on a tablet/smartphone. But as many others here have suggested it would be more useful for the masses as a Theme option (rather than as Accessibility setting only).
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