We had many customers that would buy a 1 month sub then chargeback the whole amount after using it heavily for a few days, with a nonsense reason like "item not as described" or "unauthorized charge".
I have had PayPal work for me for refunds many years ago, but the problem is often how long the whole process takes and how long your money is held hostage. By the time you maybe get your money back, you've already had to pay off that money on your credit card (if you used credit for the PP transaction). I've found that when I do a chargeback via my credit card, they often give me the money back right away and then do an investigation. If it were to not go my way the money would get taken back. I think this feels more fair depending on the case. Some cases are pretty clear cut and there is no reason to hold your money hostage while they confirm what you said is truthful.
If you want purchase protection you need to use a card that offers it.
But yes, it's my mistake for assuming the purchase protection would... protect my purchase.
And now I won't make that mistake again. The value isn't there, neither with their aggregation service nor their credit product.
I can just use Google Pay with a credit card, both of which are more convenient and offer better protection than PayPal does respectively.