Earlier quoted context omitted.
For starters, it doesn't come with the whole "light show", it's black and white. "Minimalist" types often suggest turning your smartphone into B&W mode (usually an accessibility setting), precisely to reduce temptation to watch videos, social media, and such.
Elsewhere in this thread I see comments that mention "low distraction", "calmer", and something about iPhones frying kids' brains. This all looks like snobbery to me, based on the association of monochrome paper with novels and writing and intellectual pursuits. In the 18th century we were scared that novels would fry the brains of young women, but times have changed and now it's iPhones that are sinful, and monochro…
The main benefit of e-ink isn't what you mentioned in the post, imo, it is that it is great to read with in everything from direct sunlight to darkness, which is less straining for the eyes.
Having something mainly for reading is also a nice thing for us that easily get distracted away from that.