If a seller's DSRs drop below 4.3
- his ability to list and sell may be restricted
- he may lose fee discounts raising his cost for selling
- the number and /or value of his listings may be restricted
- his customers' payments may be Held for 21 days against his service record.
- his selling account may be closed.
ONE star is the lowest rating. No stars is a free pass because; arithmetic.
Of course all sellers want Five Star Ratings, even a four star rating puts them in jeopardy. Again; arithmetic.
That should not stop buyers from using the system responsibly to warn eBay about poor performance.
But if you paid, the guy shipped promptly, it arrived safely (even if later than you would have liked), and the item was as described, there is no reason not to give Five Stars.
And as you note, you don't have to leave Five Stars for every category.
All that aside, if the item doesn't work, you don't go first to feedback, you notify the seller and try to get the problem fixed or your money refunded. If that doesn't work out, the Resolution Centre is there. If that doesn't work out, the credit card you really paid with is there with its chargeback program.
And finally, there is the feedback/DSR system.
Which is voluntary.