I've read articles and heard interviews from pundits who say eBay is
successful in spite of itself. They abuse their customers, make stupid
purchases (Skype?) and haven't really made their site better in any
meaningful way. While most web companies are moving to dynamic and clean,
Google-style web interfaces, eBay keeps adding more and more clutter and
annoying ads everywhere. Not to mention their search engine gets worse and
worse.
As for rate hikes - I think eBay is going to discover the Laffer curve
effect pretty soon. At some point raising prices won't generate any more
revenue, I think they are well beyond that point by now.