Unfortunately it's what eBay morphed into after they took away the up-front seller listing fees, and simply have the final value sale price fees if something does sell, combined with the advent of the eBay "stores". eBay has always had its share of items that were overpriced on it. But it was only after eBay implemented the above two changes that we've come to see many of these same grossly overpriced items being re-listed for months at a time, and many of them being relisted for two years or more time at the same awful overprice. The eBay seller has "nothing" to loose but their time for re-listing items over and over again if they do not sell, since there are no longer any up-front listing fees if something doesn't sell (unless one has a reserve price on something). And if an overpriced item does eventually sell by chance, then the seller is doubly happy that someone foolishly bought something at a greatly inflated price from the seller.
My least favorite seller, notorious for being incredibly overpriced and re-listing the majority of her same items for two plus years time, and having at least 3 seller accounts that she lists under is seller: "dracomedals" aka "geoderrina" aka "hunderrina" (she uses the same "draco medals" watermark on the photos for all three of her eBay seller accounts). At any one time she has between 1,500 to 2,000 items listed under these multiple accounts.
Best Regards,
Alan