An alternative might be to jailbreak a Kindle 2 or 3, looks like you just need a computer and a USB cable to do so.
https://wiki.mobileread.com/wiki/Python_on_Kindle
https://wiki.mobileread.com/wiki/Kindle_Hacks_Information
The original OS runs, so what you can do is limited. There are examples of changing the “screensaver” from Python, but I couldn’t see how easy it is to get data into the Kindle (maybe needs USB, which would make it kind of pointless.)
Many Kindles have a web browser, using that wouldn't be too hard. Webkit if I remember correctly.
Though if you aren't a total stranger to C++, a 15x cheaper (4$) e-ink display that is just 50% the size, that can be controlled over SPI, would be nearly just as much effort but much less maintenance. IMHO at least.
Now, although the concept of "screensaver" seems silly for a device where the display takes no power to update, I noticed that when I left the web browser up (disabling the screensaver as mentioned in the repo) it chewed through the battery very quickly, in about 24 hours. With the screensaver back on, it's holding a charge much longer. I'm going to have to jailbreak at some point.