As strictly a buyer on eBay, my views have changed over the decade or so I have been actively buying pipe related items there. Originally, it was about the thrill of the chase and I didn't see many reserve auctions. As I have grown older aged, eBay has matured from a small auction site to a truly huge auction site with a much larger variety of types of items and many making it a significant portion of their income stream. I honestly now look at eBay like an Amazon.com with a leaning towards the renowned, odd, obscure, etc. I come looking to buy, hoping for the steal sure, but willing to pay a fair price for fair value. If that means a reserve, so be it. I know what the maximum I am willing to pay and put that in the ol' snipe program. If I win it great, if not I know I offered my best price so no tears.
I think we all know that eBay can be a total crap shoot. A seller can make a fortune or much more often lose their shirt. If a seller has something they feel is worth X or they need to recover X and want to achieve at least that the reserve is the best way. If it sells, at a minimum they get their X, and possibly much more, and if it doesn't sell at worst they are only out the fees and their time. As a wet shaver, if I were to sell some of my items on eBay some would be no reserve, but some would need a reserve to avoid a serious loss that can and does happen. I see a reserve as a completely reasonable, and common, technique in both the online and in person auctions.