Chargebacks, while inconvenient for vendors, provide utility to consumers, especially online when there can be a long delay between paying and getting to receive/examine the product.
Chargebacks do provide utility to consumers, but they also provide utility to scammers and fraudsters, who use chargebacks to steal more than $10 billion a year in the US alone. The cost of this, and fraud prevention and dispute resolution, is ultimately passed back to the consumer as higher prices.
From the most negative point of view, the chargeback mechanism could be seen as a sleight of hand marketing trick that was necessary to get consumers to accept new payment methods, by hiding the real costs.
From the most negative point of view, the chargeback mechanism could be seen as a sleight of hand marketing trick that was necessary to get consumers to accept new payment methods, by hiding the real costs.