The service being sold is the objectivity of the grading process, otherwise anyone could just decide they have a high grade item.
This sort of thing happens all the time in grading – a later reveal shows that earlier gradings were obviously incorrect in the mind of any collector. That means that they have such a poor objective process as to be no better than subjective analysis.
Graders ultimately sell reputation. Like currency, grading only works if you believe in it. Don't believe the grader? Then their word isn't worth anything. This means as more and more of these issues happen, graders will struggle to retain that trust, and when it disappears it disappears rapidly.
This sort of thing happens all the time in grading – a later reveal shows that earlier gradings were obviously incorrect in the mind of any collector. That means that they have such a poor objective process as to be no better than subjective analysis.
Graders ultimately sell reputation. Like currency, grading only works if you believe in it. Don't believe the grader? Then their word isn't worth anything. This means as more and more of these issues happen, graders will struggle to retain that trust, and when it disappears it disappears rapidly.