The ebay pictures show the condition of the blade. The seller's description
"This Razor shows little or no use. Very clean and defined."
looks pretty reasonable for a person who doesn't know much.
I would say you clearly don't know much either, or you would've noticed the problems from the pictures she has on ebay. I must point out that it's you who valued the razor at $46, the seller's starting price was $10.
You may win the dispute, but I don't think you should. I am most certainly not going to hold the description against the seller and I would be willing to do business with them.

I have gone through a couple of disputes with ebay sellers. Generally I do it as a last resort only when it seems that the seller is intentionally trying to deceive the buyers by deliberately hiding the condition of the razor. I don't remember a razor I've bought on ebay that hasn't had any chips to the edge, those are a given. If you want a chip-free edge, you should purchase razors that are still sealed in the original factory packaging. It'll cost you significantly more though.