Oh very much yes. Though I feel compelled to point out that my brief foray into getting Android running on Nook, the disconnect between a graphics system predicated on the sort of refresh rates that exist on LCD screens and the reality of the refresh rates for e-Ink displays suggests that just a naive installation of secondary display on an existing workstation would wind up being intolerably frustrating.

I think there's a market for a workstation like this, but it's the matter of creating the supply first.

people need to see it in action, and boss need to see that they can purchase it for their backend developers (non color requiring devs) and think "wow this will save me $$$ on developer distractions."

Is there really a big market for a hardware solution to something that can typically be solved with software? There are all sorts of focus-inducing apps, from DNS servers that refuse to serve distractions, to software that actively blocks certain non-white-listed apps from running.

limitations make people think outside of the box.

I like my IDE's color suggestions though. Does your b&w system also have that?

I use IDEA, Eclipse, VS, etc on an e-ink. Use the light-theme that comes with your IDE (not the Dracula theme). You will see the colors as different shades of gray (not just b&w) - it's fine, one gets used too. And color e-ink exists just still too expensive - there were rumours that the next Kindle after v3 gets a color e-ink (2010), but Amazon shifted the focus to Kindle Fire. The technology is there, just the volume is too low, so color e-ink are still expensive.

I recently made myself a nice mono colormap for Kakoune. I have four terminal windows open right now, each one connected to the same editor session, and each with a different foreground color, all using the same colormap. I'd give up the extra colors for a big grayscale e-ink display though.