Exactly. What's the point of using an escrow with those terms?
No real use to be honest if someone really has intention to scam others. I always wondered about the way ebay deals. Someone can use the same idea and can full ebay resolution. But I don't think there are many people who have intention to scam others. There are one or two in a million and they give the bad name.
On the other hand imagine everyone is sending an item to ebay warehouse and ebay has manpower to manually check all shipments. This will be a total mess. Obviously the senders are trusting ebay's logistics of course.
I find a Bitcoin signature much easier to verify than a PGP signature. In this case the victim didn't verify MJ's signature (even though it verified, so that wasn't the problem). But if the victim would have used signed messages too, hacking his account would no longer have been enough.
Bitcoin signed message is way too easier. I don't think majority here even have a PGP key and they know how to use it.