They lost many of the seller trust. Also it is in the most cases not a good deal anymore to sell on eBay.
They change the rating system, not for the better.
Competition in niche market is emerging strong. For example in the luxury watches niche where eBay is charging fees which are to high and not competitive. This drives these sellers way to specialized auction services which charge lesser fees!
I think that this market share they lost will not come back to them. And they will lose more in the future.
It goes faster to lose a market than to conquer it.
This is a good example how the things are moving in the internet.
That you are big player today and that you may have been the first one in this market does not matter anymore, if you do not listen to your customers you can become history very quick.
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RIP Ebay!
I think basically people are shopping around for the best price on something if they are shopping at all. So Ebay for me has become a tool to compare prices that are usually a lot cheaper elsewhere.
On the seller side, there are more cost effective ways to sell products.