I read books on my Kindle outdoors in the blazing sun, and so do most of the millions of people who have Kindles or similar devices. Contrast is excellent. In the same conditions an LCD phone is just a black mirror which you can hardly make out any kind of information form. An OLED is better, and you can see everything on the screen dimly if you strain your eyes. A TFT is even better, but none of them compares to eInk or paper.
So maybe you live in Britain or in Norway, or somewhere similar where it's cloudy all the time? You saying that paper is low contrast baffles me, actually. It seems like you are hung up on the contrast within the device, which is irrelevant for outdoor use, where the only thing which matters is the contrast as part of the real world environment.
Let me ask you, who is the faster runner: The fastest runner on your street or the slowest runner in the Olympics? Because you seem to be arguing for the former because of measuring within limits that do not confirm to the real world - where there is a sun.