That might be fine for you, the seller, but it is infuriating for a buyer who is genuine and is outbid a few times by another person, only to have that other person retract a bid days later when the other bidder has walked away and left them in the lead and it is obvious they are not going to counter bid.

Not sure what your problem is, if a bidder retracts and your bid becomes the highest it is at a price you were happy to pay. Ebay clearly tell you when you bid that even if you are outbid you could still end up as being the winning bidder. If you choose to walk away and not keep an eye on what is happening that is hardly anyone's fault but your own