I dug around a little bit and found that it's storing its data in a sqlite database in ~/.config/chromium/Default/databases/https_read.amazon.com_0/2 (there's an index of what's in what database in ../Databases.db). I did a "select * from fragments", found some things that look like data URLs representing images, pasted them into my browser and yup... those are the pictures from the book I'm reading. So, DRM fail.
As for the text of the book, I see some words from the book surrounded by garbage. So if this is encryption, it's pretty bad. Excerpt:
⟳As➁⨋0⫪⟳I➁⨋0⬀⟳exit,➁⨋0⭂⟳I❪➖⨋0⭍⟳⡿❪➖⨋0⮥⟳m➁⨋0⮻⟳⢞⥞ys➁⨋0Ⰸ⟳⢵refu
"As I exit, I'm careful..."
Next step is to look for the source code that implements this and see what those garbage characters are doing.