But they have all had their fair share of scandals right ? I mean, we are not talking about some stuff that could hypothetically happen, but that has happened already and may repeat itself in the future, because there is no oversight and no accountability really.
In the real world certain business activities like escrow, auctions etc are subjects to audits, regulation and codes of conducts, have to abide by KYC and procedures against money laundering and insider trading. Nothing of the sort in our industry. It's the fox guarding the henhouse.
GD have done shady business, for example:
https://domainnamewire.com/2008/12/03/standard-tactics-llc-how-godaddy-profits-from-expired-domains/
So, knowing this, should I trust them today, when bidding on their platform ? Maybe people become ethical and different after being caught red-handed. Perhaps shame turns people into better persons, who knows. Maybe they'll repent and improve their ways, or they will simply do better not to get caught next time.
Other registrars have engaged in dirty stuff as well, and tried to distance themselves from their dubious offshoots. Enom, Netsol, for example. I know we are not here to talk about registrars, but when they get involved in auctions sites either as founders or suppliers you have to keep this in mind. This industry is too incestuous to be trusted.
GD is also one of the few major venues that is resisting the use of bidder handles. Either they don't want to finance a costly overhaul of an old and buggy system (?), or they don't welcome the increased scrutiny and accountability that would ensue. At least, they now have a policy that forbids employees from bidding in auctions. But it took a mini-scandal for them to have a policy in place, remember. But other venues are not all that clear.
They certainly could do better.
I should also add that even if people are perfectly honest, their systems may still be gamed by insiders.
Examples: rogue employee (Snapnames), or hackers penetrating the system and gaining insider knowledge, possibility altering computer data or interfering with normal operations.
These days, hacking and data breaches are the new normal, tight security is the exception.
Some types of businesses like credit card processors, banks, casinos etc are required to follow PCI rules or undertake penetration testing on a regular basis to assess their systems. And we still have large-scale breaches like OPM or Equifax.
But businesses that are not regulated surely care even less.