I'm around 40 and haven't read a physical book since the Kindle came out. Same goes for most the people around me (including parents and older friends). I think I know one single person who reads physical books, and they're a collector/enthusiast.
I don't think it's generational rather just some people "clicked" with ebooks and some didn't.
I couldn't live without search, saving passages, device handover, hold-click dictionary/wiki (so good for setting the image in your head if the book mentions a city/country you haven't been). I read maybe a few physical books a year before, now I read a novel or 2 a week, almost every week, and carry my kindle absolutely everywhere since they launched (have worn out 3).
I mentioned it in another comment, but it really seems as though the expected outcome (kids have kindles and older people have real books) is exactly the opposite. Every older person I know who reads uses a kinlde or other device, and people that are younger I see either don't read at all or read paper.
It doesn't surprise me, because the younger generation seem to be getting tired of technology. It is something they're expected to be on for fun, social connection, and work, so it's not a stretch to imagine they want some time off.
All of my hobbies were on computers, and it has been a real struggle being in the software industry when my social and leisure time also involves sitting at a computer.
I have taken to grabbing a book, leaving the phone at home and finding somewhere to read.
I agree that's it's probably not entirely generational, but there is something to be said for growing up with 24/7 connectivity being the norm.
I really don't care for all the ebook features you mentioned, I just like the convenience and lack of weight of having hundreds of books in your pocket.
I do like the feel of a real book when actually reading it but don't mind reading books on my phone either.
I don't find there is that much convenience on having "hundreds of books in your pocket". Unlike music or films/series, most people are never reading more than two or perhaps three books at the same time and most books take days or weeks to finish (unless you are reading full time). Carrying a kindle is not that much more convenient than carrying a pocket book...
The question is where to store all your physical books though. I own hundreds of physical books (and that's after pruning the collection of books I have no desire to reread at some point). I prefer ebooks now because there's no issue of storage (plus being able to increase the font size is nice now that I'm approaching 50).
I've always read a book or two a week and I switched to ebooks just because they are so much more accessible and easier to carry.
I used to dread being at the end of a book before something tedious like a doctors appt or long car ride. Now I just finish it and flip to another book or grab one off my calibre server.
The ability to get so many books I never knew existed made me switch. I still prefer a book but the advantages of ebooks starts to outweigh the book. Ebooks have less of value/worth, not sure why. They feel more generic because the ereader presents content the same way. Carrying a book could lead to a chance encounter with someone who was reading the same book the way music t-shirts could connect similiar strangers in a large crowd.
Most the hardcore older readers I know use e-books just because of the sheer number of books they churn through, yet all my mid twenties friends read paper books. For many a book is an escape from technology, having grown up with it 24/7 and working on it for 8 or more hours a day, anything to disconnect is good.
I've been a die-hard paper book reader, but ever since I got a kindle a year ago, I only consume e-books. I have much less book clutter in my apartment now, and I can get any book I want immediately.
I'm 27, I've only read ebooks in the past couple years as well. And over 6 years I've read maybe... 5-6 paper books.
Paper books are more expensive and I can't easily take them in the plane. I always have my kindle with me (even though I use it far less than I'd like). It has weeks of battery and it's always full of stuff I want to read but haven't. I also take great care not to put stuff in it I don't want to read otherwise it starts looking like my Steam games library.
I pretty much abandoned paper books when I got a Kindle on a vacation. Many years later, after moving to a country where I can find any book I want delivered to my doorstep in 2 days, I abandoned e-books and audiobooks.
I use both (and Kindle books sync your position between devices). It's nice to read on your phone because it is always there. But it is just more comfortable to read on a e-ink screen both because of the size and the fact that things like sunlight don't wash out the screen.
With a black background and Yellow or off-white text I have less problems. I also have a night text that is orange-ish or brownish if it's really dark where I'm reading.
This is the most mind-blowing thing I've read on HN. It really makes me appreciate generational differences.