It is not new “buyer protection”, it is exactly as itv always has been but buyers now have to pay.
You will have to open a not received case, which will be rejected because tracking shows as delivered and then attempt to argue your case with ebay, which is usually extremely difficult.
Unless seller is prepared to post again or refund I am afraid nothing much has changed and buyer protection even now paid for is very much lacking, so if you are unable to get item or refund contact your payment provider for assistance.