Yes, there is seller/buyer protection. Pretty much everyone knows that too. While the option for charges backs is available, just accepting PayPal doesn't make you more trustworthy, since the only person taking a risk in that case would be the seller. If I was a newbie and wanted a loan of 100$ in PayPal, would that make me more trustworthy than one who wanted a 100$ BTC loan? No.
No... not really. You're saying that a shop that sells cheap gift cards and
only accepts a payment option that is nonreversible, even if it turns out to be some sort of fraud, is more trustworthy than one that accepts another form of payment that has both seller and buyer protections, one of which is that buyers can get a refund if the gift cards turn out to be illegal?
And no, as much as the general cliche response of any kind of PayPal transfer thread on the forum is "PayPal is bad because any transaction can be reversed from the seller's pocket!", if scamming on PayPal were really that easy, it wouldn't be the first payment option that most online businesses use. It certainly should be avoided with bitcoin, but that's really mostly because it's against the ToS and the PayPal team themselves are against it.