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Books are snobbish in some very big subcultures (like academia). Ebooks just tag technological exclusivity right on top of the pre-existing subculture.
People who read without arrogance may continue reading without arrogance, or they may feel a sense of superiority with an expensive or uncommon gadget. Such behavior wouldn't surprise me from the early Kindle adoption crowd, especially the Oprah cult and similar.
Scholars are frequently condescending when it comes to reading, and ebooks will not really make any difference to the degree of douchebaggery or pride associated with being well-read. The worst I could see is that ebook-owning academics are much more likely to draw out the book they're going to quote to ensure they cite the pretentious language verbatim, believing themselves to simultaneously amaze with their erudition and impress with their financial status and technological prowess.
When the cost of ebook readers is more reasonable (far under $100usd) and commonplace, the gizmo-snobbery will take a backseat, assuming the devices are actually worth owning and the content market doesn't undermine everything. One of the big appeals of toys like ebook readers is that they are still a little bit exclusive. Once that disappears, it'll be interesting to see what supplants exclusivity as a primary market driver.
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