If OcherBook is meant to entirely replace the Kobo firmware, why not base the document rendering portion on something like Readium? That's another best-in-class renderer designed to be used in other software but it seems like it's almost always overlooked.
On a side note, It's always been a faraway dream of mine to do a Kickstarter-like project to fund a completely open and libre eink ebook reader. As far as hardware startups go it'd be on the simpler side (the stripped-down minimum device is just a touch eink screen, ram/cpu/storage, usb-c; wifi and backlight not required). But, I have zero hardware experience and honestly I don't know if it'd be a venture that could be made profitable or not. Kindle/Kobo devices are loss leaders for their ebook store, so an ereader without a store, and competing on just libre-ness can't compete on price. If anyone's interested in chasing the dream, get in touch...