When we initially designed and implemented the auction houses, the driving goal was to provide a convenient and secure system for trades.
Now there's a bit of corporate weasel speak if ever there was one. No Mr Hight, the real money auction house has never had anything to do with convienience for the players, it was always all about getting as big a cut from micro transactions as Activision Blizzard could possibly get. Turning Diablo 3 into nothing but a big grinding portal for real money trades. The DRM, the item frequency, all structured to support the RMAH.
Except of course it hasn't worked like that at all, as always happens with entirely virtual 'products' (be they in games or or stock markets or corporate debts) the market has been flooded with speculators hoping for growth, which of course never came because there is nothing to drive that growth, it's a videogame. The market rapidly spun to the extreme of players trading millions if not billions of worthless items for largely worthless sums to try and pry a bit of cash out the system, all the while Activision Blizzard has been paying huge sums of money and bandwidth running a system that generates essentially no income.
Diablo 3 PC has been a financial disaster for Blizzard, somehow they have taken one of the most highly anticipated games in a decade and lost money on it, purely through greed and trying to push unsustainable systems onto players who have already forked out full price (and League of Legends/DotA 2 utterly torpedoing the market for them).
Even Duke Nukem Forever made money so that's a pretty special achievement.