I've been with eBay for over 20 years, unfortunately, they've really messed up with the new format as well.

For sellers you are no longer going to get instant funds when your item sells instead you could wait up to 4 or 5 days as they will deposit directly into your bank account. They say on average that you'll end up paying lower fees as well! I just made a sale using the mandatory new format and this is the breakdown of the payment I received: 

My item sold for $11.99 + the shipping cost of $5.00 Total Sale $16.99.

The following charges applied by eBay: Final Value Fee -$2.38 International Fee -$0.20  (1.0% charged because the delivery address is in New Zealand). Per order fixed fee on final amount -$0.27. VAT was -$0.28. So Total Fees: -$3.13.

$16.99 minus $3.13 = $13.86 was deposited into my account. So the total fees on this sale are 18.42%. That is on average a 4-5% INCREASE!