Yes ... it still exists, and people use it. Though wise people will check the prices, before buying anything. I've found that a lot of people selling on eBay ask prices that are higher than retail.
They lost a lot of loyalty when they decided to go all in for sellers and the buyers beware. They are trying to turn that around. I have feedback of about 3,000 but rarely use it anymore. When I was in school, working full time and rearing two children alone I decided to start buying and selling computers on ebay. This is when ebay was fairly young. I made a lot of money and it was fun but eventually it was the thing I had to give up.
I've no doubt that it's still huge. Recently they launched a branch in Australia.
I found that what is advertised is not what is delivered. For instance, a dress advertised as linen turned out to be polyester - stinky, scratchy, horrible stuff. My email protest produced no response. I had to assume they don't care. The expense and hassle of posting it back was not worth it, so I gave the item to a charity shop - but they lost my business for life.
I've learned it's far better to go into a shop and examine the item. Only then can I know exactly what I'm buying.
Yes, I use it on a regular basis. Ordered something today in fact. There are products that are hard to find. And some have better prices than others. Always check prices elsewhere, read the ad closely and feedback scores of sellers.