I think your givin far too much credit to the eBay claims procedure...just sayin.
Out of experience. eBay is VERY buyer friendly, almost to a fault.
I bought a Game Boy Advance "Pokemon" Game. When it arrived, after inspection I was able to determine it was a counterfeit/fake. I opened a case including some photographs compared to a legitimate copy and had a full refund within a day.
I also on a lark bought a ridiculously underpriced GTX 980. Like, 60 bucks cheap. It was a counterfeit as well- it was actually a GTS 450 that had been firmware flashed and modified to appear as a GTX 980. That was "free" as well since I got a full refund.
I also bought a Thinkpad 755CE. This wasn't false advertisement but it was poor packing, as the poor thing was beat to heck when I received it- big chunk was missing out of the screen casing, floppy drive was busted and the front case had a number of broken bits. Opened a case and got a full refund- still have it.
Basically, anything listed as one thing that ends up being another can be had for free. In the case of a missing GPU I suppose a discount/partial refund is more likely than getting a full refund though.