He is exactly right. Get double the traffic an you can get double the fees. Sellers need traffic. I had over 22000 feedback with ebay and quit because no traffic, little traffic and a lot of bullshit. They are dying, just wait and they will fall over. They have been positioning the marketplace for years to be in a position fro Jack Ma(Alibaba) to buy them. Does not look like he is that stupid. If i had to bet on someone to replace Ebay I think Google. Sellers really just need a good shipping alternative that gives a big discount. Google needs to be in ecommerce.
You can have wild wild west when you're a small company. When you're a multi-billion dollar company you can't have wild wild west because you will be sued too much if you allow unfettered market for fakes and scams.This is where you go off the rails. As I said above, MANY people have tried and not too many succeed because you wont' be able to draw buyers without a massive advertizing budget or a strong word of mouth. You're starting out with neither.