Alternate theory: Having an eBook reader might show a commitment to be a reader (i.e., you do it for fun, not just because it's homework), and teens don't want to be known as "readers" (because it's lame at that age).
The thing is these very teens will be seen walking around with the Hunger Games or whatever the recent teen "must read" is. They brag about having read the last Harry Potter in 4 hours. It has become a cool thing to actually be literate in the latest teen book craze.
Yes, but that's a very specific and fairly small set of books. Reading the Harry Potter and Hunger Games books is not the same thing as generally identifying as a reader. Carrying a Hunger Games book identifies you as a Hunger Games fan — carrying a Kindle identifies you as somebody who likes books other than The Hunger Games.