I think in most cases that is a missconception. Most very wealthy people I know are generally very generous and not cheap. Most wealthy people are very smart, and have setup a good way to make a lot of money, counting pennies isnt productive.
This guy doesnt seem to be too smart, most intelligent wealthy people dont go around flaunting it, unless they feel insecure about themselves.
Treating people with honesty and respect allows one to feel good about themself, knowing they have done the right thing. Most crooks have little self respect. If they cant show self respect, they certainly cant show it for others. Spaz-stingwray is a prime example.
The guy is a bad apple, an a threat to ebays reputation. With the new feedback system, careless, neglegent, rude, and dishonnest sellers like Spaz-stingwray wont be around for long.