I was just on a flight yesterday and I commented to my wife that everyone around us was reading from paper books. I have a Kindle, and it gathers dust. There are too many strikes against it.
It removes the nice aspects of a physical book which include the feeling of place and progression, the cover and design, and the smell and wear of the book. You cannot lend your book. You cannot see your book. You do not own your book.
The Kindle has the advantage of portability, but in terms of being a book, everything else is a sacrifice. IMO the Kindle benefited for a time from a cultural cache that came with being on the edge of this new technology, but that has evaporated, if not reversed somewhat.