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I'd say for now it's fine. I don't want an e-ink tablet as in a device this size I want full internet, video, games etc., not just a dedicated reader.
IPS seems the best option in color screens right now, OLED is great but too expensive at this size. Other things like PixelQI, Mirasol etc. are still in development and will have a lot of kinks to be worked out, but may be better down the road.
But for now, I think they got it right for what they want the device to be. It might not be great for avid readers--but Apple didn't make this device for that niche.
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