It’s based on images arranged in squares, and sorted by the user’s personal choice. To me it looks more like an Etsy website, that combines everything – not just handmade stuff.
Still, even after this make over, Pinterest and Etsy are much more attractive due to their focus on creative and aesthetic images. People that sell at ebay are not expected to upload aesthetic pictures, it’s just not about that. To be honest, to me ebay will always be a place where people sell their junk. and that’s ok.
New ebay interface: