So Ebay's dispute resolution policy isn't well thought out. It would be objective to ask the seller to demonstrate this very defect. All the more so Ebay is usually very loyal to buyers, but here the situation turned out to be exactly the opposite, the marketplace took the side of the seller.
It isn't that their resolution policy isn't well thought out, it's that eBay is loath to enforce it. They're loath to enforce policies pertaining to almost any questionable behavior, like multiple bid retractions.
There have been multiple examples of crooked sellers on eBay, forging listings. There was one seller in China who pulled images from legitimate listings and posted his own, offering to sell pipes that cost hundreds of dollars for thirty bucks.
You would think that people would assume that something fishy was going on and not bid, but plenty of people who think they're smart and onto something are stupid and go for it.
Craiginthecorn first alerted us to what was going on and I joined in with tracking and reporting the fraudulent seller. At first eBay did zero but after a few months of fake listings they pulled the plug. The seller was back in a day with the same scam, and I continued to report and report and report, while eBay did zero and the seller defrauded a lot of stupid people. They eventually closed down the seller and he waited this time for a few weeks before popping up again. I was on him like white on rice, and he got shut down again. We played cat and mouse for over a year before he didn't reappear for six months and I moved on.
We've seen fake Jess and Bo pipes on eBay as well as fakes of other high end Danish names, that have sold for thousands to starfucker clientele who buy names but don't actually know what they're looking at. And when a number of us have reported the fraud, eBay has taken no action. I've seen pirated material sold by "trusted" sellers with100% ratings and eBay certs.
If a dispute does happen you will likely get your money back, but whether that always gets clawed back from the seller is doubtful. For eBay it's just a small cost of running a bazaar that rakes in billions a year by not asking too many questions.