The off-the-shelf E Ink display that Mudita uses is the same as the E Ink displays in other phones. And even with all their battery life optimizations, they still get less battery life than the nearly identical Light Phone II.
It's a neat project and I wish them luck. Their attention to open source has been admirable but like with all these kinds of systems, there's hardly any apps available. There are OSes like KaiOS (which is derived from Firefox OS) that offer large app ecosystems, long battery life, and low hardware overhead which would have been far superior to a system designed for IoT.
Personally, I want to see a Blackberry-style QWERTY keyboard on one of these kinds of phones, but maybe that's just a personal preference.