Looking at the new Advertising Dashboard, I find some of my suspicions about PL are justified.
First I should mention that on all my selling IDs, my products are longtail, slowselling, OOAK. It is not unusual to sell an item that has been in stock for over five years.
The first Observation is that the new Dashboard definitely shows that PL listings get more impressions than 'organic' listings.
The second is that 'organic listings' definitely get more clicks than PL listings.
None of my IDs show any sales, so I guess eBay hasn't completed their work on the new program because I have been having better than average (year over year) sales in 2024, including July.
So PL seems to bring the punters to your Store, but doesn't sell anything. In fact, once in your Store, the punter may be taking the time to look at other stuff you offer and buying that.
Since we don't pay the PL fees until the PL sells, this is a Good Thing.
I will continue to use PL on about 25% of my listings at the minimum of 2%.
YMMV.