The device is likely too underpowered to make anything modern remotely usable, unless you keep it CLI only, in which case, you don't really have to bother as it's already running Linux and getting a root shell is trivial?
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Otherwise, look at the Alpine images for K5 & up. Which are already dog slow, despite running on much more powerful hardware.
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Sidebar: You're absolute *NOT* going to be able to use anything other than Amazon's own kernel sources. Even on more modern devices, which are at least based on NXP's own kernel trees, rebasing against newer versions of said tree is a *massive* endeavor, and rebasing against anything more different than that is basically pure masochism.
You don't see a lot of custom kernels for consumer eInk devices, there's a reason for that

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