so it comes down to who is more likely to be ripped off - the buyer or the seller!
As a buyer, I am most concerned with me being ripped off. I don't think that's unreasonable.
Amazon is the only company I know of who've sold e-books then stolen them back and only offered the buying credit in their store instead of an actual refund
As I recall, it was the publisher that was responsible for the claw back not Amazon.
Supposedly it was a back catalog item that the publisher had made a deal with Amazon to do a print on demand publication.
Since the publisher gave Amazon an electronic version they made it available for the Kindle as well.
After the e-book had been available for months, the publisher came back and threatened to sue Amazon claiming that they had never authorized the e-book version.
Amazon offered to pay the publisher extra for the e-books, but the publisher refused, insisting that Amazon re-possess all outstanding copies.
I'm not going to defend Amazon's refund policy.