Skype is Ebay’s downfall

What is Meg thinking?! I had my doubts about MySpace/IGN valuations for Fox… but Skype!  Perhaps someone can tell me what I'm missing: Skype, founded by two guys who can't step foot in the US because of Kazaa; exploding number of subscribers, but gees… it is FREE!  So that should be no surprise…  $2.6bn-$4bn for a business that's 2 years old and finding a business model.  That's double or triple the entire budget Murdoch has to build his Internet empire. 

Ebay's official line is as follows: 1) Skype brings in new customer base, and 2) Skype offers its existing customers a valuable resource.  On 1), it's not like eBay is an unknown brand in this day and age; and 2) so what? 

Very perplexed.  I'd have to say though, that I've always admired Meg Whitman…  She's probably seeing something I'm not.