I too am a member of the "no pic, then I don't buy" club. Call me crazy, but I just like to see some digital proof of the item. Any seller that doesn't provide pics is doing themselves a grave injustice by not providing pictures of their items. I guarantee there are millions of other potential ebay customers who feel the same way that we do, and who would pass on items for auction because of the lack of pics. I don't personally know a single person who uses ebay that doesn't feel the same way about the picture issue. I know people who don't even click on an item's link if it doesn't have a pic icon beside it. Especially when you're talking about a vintage item. As they say, a picture is worth 1000 words, and since condition and grading of an item is subjective, I would like to see pics of the item to judge grading for myself. One guy's "perfect" description of a 1979 Star Wars poster, may be another guy's "toilet paper".
And all that your example about Joe Bloggs says to me is that Joe should wake up and realize he needs to provide pics, as it cost him $800.00.
It is true though, that feedback is also very important. I'm not so foolish that I'm going to buy from a person who has zero feedback simply because they have pictures. I've seen folks copy stock photos from other people's auctions, or even Michael's site for their auctions. Does a feedback rating outweigh providing a picture? Sure it does. Buy you know what, when I see a person with a high rating that doesn't have a picture, it makes me wonder why not? And I think it's just lame when I read in a description, "sorry, no pics, I don't have a scanner or camera" from a seller with a very high rating. I say that if the seller is that serious about selling on ebay, they should act like it, and anyone who doesn't may be a five star seller, but they're only knocking themselves down a notch or two without providing pics.
It may be eye candy, but give 'em what they want......
In the mean time, you can snatch all the pic-less deals off ebay and laugh all the way to your collection room.