ebay seller protection is pointless either way as the decisions are arbitrary. The receipt offers you protection as in if you have to take the buyer to small claims court or defend yourself then you are covered for transfer of goods. If you're a private seller, selling items under $20/£25 it's not worth arguing. Unless you're selling volume, don't even sell the items just throw them away or give them to someone.

Also run a mule bank account. All money in and out goes through an empty account which you transfer in and out of paypal. Never link a card to it. No arbitrary charges or refunds can be taken then.

If ebay have a problem with you they can come to your door and do it via official legal paths. They usually hire a debt collector here in the UK who will fuck off instantly if you file an SAR with them and ask for court documents (I had a run in with them a few years back after they didn't receive a fees payment I made due to a system problem)

But honestly there are so few problems out there really.