Defnitely. Data point: I saw a couple years ago that hundreds of (mostly overseas) sellers were advertising things under titles like "Carbon Monoxide Detector Smoke Alarm". It was clear that they were all just CO detectors alone, with no smoke alarm capability at all (assuming they worked even for their designed pupose of CO detection, but that's a different story....)
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So people would clearly buy these thinking they were protected against CO and ordinary smoke, that they both kinds of alarms - but in reality had only the arguably less important one. (Regular household fires and choking smoke event are _far_ more common than CO poisoning - although both are deadly if they do happen.)
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Anyways, I tried for an hour to find a way to report this through Ebay's Trust and Safety system - and gave up. It didn't fit any of their preconceived categories of "Listing Violations" and there was no way they would allow someone to alert them about (dangerously) mislabeled products. It was clear that Ebay, in the end, really didn't seem to want to know that something's being sold on their site that shouldn't be - they just wanted the revenue.