I think the feedback system is outdated and not necessary. I think ebay do it mainly to cover themselves, and not for any other reason. As they are somewhat responsible for all transactions that happen on their site, it is in their interest to make sure bad sellers are rated as such so that buyers can avoid problems. Any private website does not have feedback or ratings. And yet buyers use still use them. I guess the difference though is that anyone can open an ebay seller account in five minutes.