eBay isn't overseen by a third party auction house. Sotheby's, or the like, wouldn't accept an item to be auctioned unless the reserve was within reason... it wouldn't make business sense. Whereas, as a seller with eBay, you can play endless games and the only cost of admission is the listing fee.

Also, a reasonable reserve is of little consequence if you have two people in a bidding war.

I've found, providing the item has some demand, if you list it for a $1, you will generate more activity and subsequently more revenue than listing it at a higher starting bid or with a reserve.

In reality, ever auction is a game, and the winner is the highest bidder (providing it meets the reserve). It's every bidders choice to determine their level of participation in the game. If it has a reserve, and you have to have it... you will bid on the item. Just remember, very few items are unique, and we can't take it with us!