Er, well its not the eInk stuff i know that, but its a simliar screen to any tablet really. I haven't yet seen one and got hands on, but considering how much it is, its fair to say it seems like a good screen. Id say probably just like the Arc.
It is an eReader but its not like the Kindles or other Kobos. As they put it, "Its the words first social eReader". And it is based around books, but you have other things you can do on it. It really is like the Kindle Fire. Same price too.