"Android 4.0, obsolete and out of any form of support since late 2012.
I hope you don't plan to connect this to the internet."
I'll ignore the snarkiness of this comment. There aren't any other 13.3 inch e ink readers out there that run on the latest version of Android. Furthermore, Onyx have announced upgrades are coming for the Boox Max. Also, Android support contrasts this device to say the Kindle DX which you can't use with your favourite reading apps etc.
Why, what would happen? Would it be worse than using, say, an S3? If you're talking about security, you'd be fine if you didn't do any shopping/banking etc. It's an dreaded essentially.
I hope you don't plan to connect this to the internet.