I don't think eBay is really too concerned about the 1cent starting and high shipping fees. Yes you can report them, but does the auction ever get pulled? Has anyone ever seen an auction that got pulled because of high shipping fees?
Also if you look on eBay they will advertize 1cent CD's. I think it is a whole listing catagory. Most people who are starting at 1cent have inflated shipping.
If you think about it and add shipping into what you are willing to pay it could be worth it. What if you really wanted a game, and people started it out at 12.99 with 3.00 shipping + 15.99 total right? So what is the difference if you pay 1cent for the game and 15.98 shipping. This would probably work out better because most people would scoff at the high shipping and not take as much interest in the listing.
So if you add everything up, it may be a good deal to the right person at the right time. What do we care if someone is trying to avoid fees!