Good point, forgot about that. tbh, nothing changed after the spin off. eBay still seem to have direct control over how your paypal account gets/loses funds.
10 years ago, maybe. Paypal evolved into a full-service payments processor since.
(By "full-service", I am not saying good service; just that they offer a broad spectrum of services now.)
One irony is that eBay was originally very hostile to Paypal as they tried to get traction for their own Billpoint system. They even killed listings for having Paypal payment buttons in them.
Fast forward a few years... eBay becomes so protective of Paypal's de facto monopoly, they made it a policy violation to even mention accepting cash in a listing. (!)
