Something like that, yep. For MW:
P. Passport (
notarized passport application sent by letter to verification agents over the world or the capital city there), there is
Arbitrage, things like "Business-Level" and so on - sellers can't scam for like 100x or so - they lose account, passport, business level (reputation from ALL websites and customers that they have been dealing with from the start) and so on + no option to get another account, except if you use someone's else ID, but very hard to fill the notarized app and sent to the verification center still.
When people are using such services as major payments providers for years, over decade even, I can't see much complaints, when I see not 100x, but 1000x more for PP only for year. Not to mention the stronger security (access to your acc) with a cert., with rules by adding IPs (your own static or network) and much more, hacking/stealing a WM acc is pretty hard, even for retards/n00bs that are using it (of course, with cert.), unlike PP's - even I can login on your acc if I got your pass from somewhere and know your IP from some forum, might get a VPN from the certain region GeoIP.
The most important thing both as a seller and as a buyer - I have trust, I have arbitrage options (if someone scams), I have BL, lower fees rate, many more tools and access, UNLIKE PP - PP is and example of how to NOT do business.