Not really, my wife is still happily using my old Kindle keyboard. I like having the built-in light, it makes reading in bed easier as even with the bed-side lamp if I lie on my side it can end up in shadow. You can buy a clip-on booklight for a few pounds though. The paperwhite screen is higher-resolution but to be honest I don't notice much difference between the two. If you don't think you'd get much benefit from the light you'd not be missing out getting the cheaper one.Is the paperwhite kindle do much better than the basic model to justify the extra expense with the light it has? I doubt think I'd be reading in the dark workout a light anyway.
I do still like paper books, but the Kindle is much lighter and easier to read in bed, with the advantage that you can just put it down and not lose your place. It's also handy being able to take many books on holiday in a small package.
Be aware though that the cheapest price shown on Amazon is the discounted one which includes adverts, advert-free is an extra £10. The adverts don't show at all when you're reading, it's a small banner on the menu page and the "screensaver" when it goes to sleep. They're usually for books or Kindle accessories. That said, I didn't want them and paid the extra to remove them. You can do this at a later date if you buy the discounted Kindle.