No, it's very simple. You go on eBay and buy a gift card with your Paypal money for $275. The seller then mails you a gift card worth $200. You go and spend the gift card on video games or whatever you 15 year old kids spend money on these days. What part of that process is confusing to you? Now you are paying $275 in Paypal money to get $200 in spending money, but you aren't in a situation where you want to link your checking account to the Paypal account and withdraw the entire balance, are you?
If you try to rip off the seller by fraudulently claiming your gift card never arrived or arrived empty, you're just going to draw attention to the fact that the credit card you used through Paypal was stolen to begin with. Don't do it. Besides, I kept copies of the gift card receipts and shipping information to prove I did in fact send a good card, and I never lost a dispute.