It’s mostly true, it would appear. Looking at the policies, eBay give you recourse if the item is faulty on arrival, but unless the seller offers a warranty, if it packs up later down the line you’re not covered.
Although their ‘Safety Centre’ has a “Know Your Rights” section which covers the Consumer Rights Act, I feel it’s significant that they make no mention of covering any remedies themselves, and instead point you to Trading Standards and consumer rights organisations. Very much appears to sum up to “Well yes, if you buy something that breaks quickly, you have rights - but it’s not our problem!”
Which means what ndrw says is likely true - you can’t complain to the seller or get money back [through eBay].