Absolutely right! More or less the same thing happened to me a year or two ago. I won an auction for a traditional 392E, but it turned out to be a PS/1 engine. I didn't want to deal with PS/1 in Standard Gauge, and the version with obsolete electronics is worth less than a traditional one. The seller didn't have another one, so I wound up getting my money back.
A couple more examples. Years ago I bought a PS/2 Doodlebug at York. Somehow I never got around to testing it. When I finally did test the thing, it was DOA. Of course the warranty had expired years before. I managed to find a junker with a good PS/2 5v board to fix it, but it was a giant hassle.
Another time I bought an MTH F3 on closeout from an East Coast dealer. I unwrapped one unit and discovered that the paint job was wrong (the catalog art showed the correct color). I resold it on eBay; never bothered to test it. When the buyer ran it, the trailing powered A unit was DOA. Fortunately, the problem was only a bad ground and the guy fixed it himself, with some phone advice from MTH, but I learned something about buying and selling untested NIB items.