The niche eBay serves: you want to get rid of something, but you want to not be the guy who sold for $5 what turns out to be a $500 collector's item. My guess is that those $500 collector's items are now mostly in the hands of the collectors, so that product isn't as great as it used to be. The fixed-price sales could take advantage of eBay's existing audience, but if the article is right, they've ruined that by letting their reputation system get out of whack. They're still valuable as a niche service for regret-minimization for sellers, and a ready supply of goods for antique retailers.
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The niche eBay serves: you want to get rid of something, but you want to not be the guy who sold for $5 what turns out to be a $500 collector's item. My guess is that those $500 collector's items are now mostly in the hands of the collectors, so that product isn't as great as it used to be. The fixed-price sales could take advantage of eBay's existing audience, but if the article is right, they've ruined that by letting their reputation system get out of whack. They're still valuable as a niche service for regret-minimization for sellers, and a ready supply of goods for antique retailers.