I have a color eInk Android tablet and I greatly prefer my Kobo Clara BW for general readability. I ended up disabling color in the accessibility settings.

The contrast is terrible compared to b/w eInk. The front light is necessary under anything but bright sunlight. But the front light washes out the colors, so much so that it’s a readability problem. So I only take it out of black and white mode when I’m using it outdoors.

It sounds like this new version of color eInk might be better. But I think it really would have to be an enormous difference for me to prefer it over B&W eInk.