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The elephant in the room is portability. If you want portability, then the screen is going to be smaller. All we need on a small screen is footnotes that allow one line of text and the rest footnotes. There is no free lunch for power either. If you want video, it will take up battery power, hence a larger device or more frequent charges.
I think there is pretty much going to be a split between smaller devices for casual reading or where space is at a premium and larger devices which have the screen space to display footnotes, and the battery power to display video. You will have to charge the device fairly often, but that is the trade off, for now at least.
So buy according to your need. If you need to read academic papers or image pdfs, then go with a bigger device. If you don't, then choose the more convenient sized smaller devices.
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