I use Paperlike on an iPad mini 5. I primarily use it as a note taking device instead of for websites much or video. It works really well for me, it really can replace paper. I prefer to write with a pencil instead of pen, so I need the extra grip it provides to help out my handwriting.
It did make the screen worse, quite a lot I thought. I don't use my iPad for media much, but I was disappointed with the change.
Even though it protects the screen, you need something to protect the Paperlike. The surface can get bruised and roughed up if you aren't careful about what it's in contact with it. It makes the already lesser image quality get even worse... still it makes the writing experience so amazing I put up with it.
It is replaceable, but they are expensive for how easily it gets marred.