eBay started the ball rolling when it made buyer feedback meaningless.

For all the trumpet blowing about DSRs and feedback the case at hand demonstrates that you cannot protect buyers from themselves - no matter how much you punish ALL sellers for the faults of a few.

eBay damages eBay.

IMO there will be a significantly higher number of very, unhappy buyers created through eBays non-action to restrict that single account COMPARED TO a group of 1000 of "average" eBay sellers whose feedback combined will never reach the level of that single account in the same timeframe.