To be honest, I've never really understood the need for a stand alone reader.
I read a lot of ebooks, but it's almost all on my laptop with calibre. I tuned the color scheme to be easier on the eyes at night and it's honestly fine. I used to have a kindle, but I lost it in a move long ago, and haven't really missed it.
Different strokes for different folks largely. My e-reader mostly languishes in a drawer. I'll maybe use it on a trip or around the pool but mostly do my reading on regular computers and my phone as those are what I have handy. My wife loves her e-reader and uses it daily but doesn't really bother spending much time on a laptop or desktop outside of work. To her, it's a better device more catered to precisely the needs she's looking for, while for what I'm looking for its too constrained.
It's a matter of preference I guess. I do find eink substantially easier on the eyes though. Plus the form factor is better for lying in bed while reading
Being locked in is near unavoidable if you don’t want to accept a more limited library.